The combined index of eight core industries stood at 143.1 in March 2021, which increased by 6.8 (provisional) per cent as compared to the index of March 2020. Its cumulative growth during April to March 2020-21 has been (-) 7.0 per cent, according to data released by the commerce and industry ministry
In February 2021, the output of eight core industries was at -3.8 per cent. Meanwhile, in March 2020, the output contracted by 8.6 per cent. In APril 2020, it slumped by 37.9 per cent due to COVID-19 induced lockdown.
Meanwhile, the final growth rate of the index of eight core industries for December 2020 is revised to 0.4 per cent from its provisional level (-) 1.3 per cent. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
Coal production declined by 21.9 per cent in March, 2021 over March 2020. Its cumulative index declined by 4.8 per cent during April to March 2020-21 over the corresponding period of the previous year. Coal production is the worst in March.
In March, 2021, crude oil production declined by 3.1 per cent. Its cumulative index declined by 5.2 per cent during April to March 2020-21 over the corresponding period of previous year.
Petroleum Refinery production declined by 0.7 per cent in March 2021 over March, 2020. Its cumulative index declined by 11.2 per cent during April to March, 2020-21 over the corresponding period of the previous year.
In the case of fertilizers production , it declined by 5.0 per cent in March, 2021 over March, 2020.
In the case of steel, cement and electricity, the production increased by 23 per cent, 32.5 per cent, and 21.6 per cent respectively in March 2021 over March, 2020. Cement was the top performer in March 2021.
