India’s eight core industry output index for September stood at 119.9, down 8pc from the previous year. Steel sector’s output is up 0.9pc as steel and cement were the only two sectors that reported a growth out of the eight core sectors.
For April-September, a de-growth of 14pc was reported compared to previous year, according to government data released on Oct 30. Since April’s steep decline in core sector output, September saw a substantial recovery indicating economic revival.
The core sector output index fell sharply in April, down 37pc but has been recovering since with May at 21.4pc dip, June 12pc down, July down 8pc, August 7.3pc down and September marking a recovery with the index marginally down by 0.8pc.
Steel production increased by 0.9pc in September from the previous year. Steel sector’s cumulative index is down 26.7pc for April-September period over the previous year.
Electricity generation is up 3.7pc, cement is down 3.5pc, fertilizer production is down 0.3pc while crude oil and refinery production decline by 6pc and 9.5pc, respectively in September from the previous year. Natural gas production declined by 10.6pc in this period.