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Eight core industries' output grows 0.1% in January 2021

BusinessToday.In     February 26, 2021

The output of eight core industries grew 0.1 per cent year-on-year in January 2021. Fertiliser, steel and electricity were the only sectors to record positive growth in the month, as per the data released by the Department for Promotion of Industry and Internal Trade.

The output of eight core industries had grown 0.2 per cent in December 2020.

During April-January 2020-21, output of eight core industries shrank 8.8 per cent, while the contraction number was revised for October 2020 to 0.5 per cent from its provisional level of 2.5 per cent.

Also read: India steps out of recession - GDP grows 0.4% in Dec quarter

Cement production saw the steepest fall at 5.9 per cent in January, while coal production declined 1.8 per cent. Crude oil and natural gas production fell 4.6 per cent and 2 per cent, respectively, in the month. Petroleum refinery production also declined 2.6 per cent over January 2020.

Electricty generation rose the highest by 5.1 per cent, while fertiliser and steel production also rose 2.7 per cent and 2.6 per cent, respectively.

During April-January 2020-21, only fertiliser production saw a positive growth, rising by 3 per cent. Cement production saw the steepest fall of 16.6 per cent during the period, while steel production also declined 14 per cent.

Also read: India's fiscal deficit reaches 66.8% of revised Budget estimate at January end

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