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India’s eight core industries grow by 5.1% in May 2019 on account of rise in steel & electricity output

Updated: Jul 02, 2019 06:34:38am
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India’s eight core industries grow by 5.1% in May 2019 on account of rise in steel & electricity output

New Delhi, July 2 (KNN) The eight core sector industries recorded a growth of 5.1 per cent in May 2019 over May, 2018 owing to healthy rise in output of steel and electricity.

According to data released by Ministry of Commerce & Industry, eight core sector industries - coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity - grew by 4.1 per cent in May last year.

The cumulative growth of these industries during April-May 2019-20 was 5.7 per cent as compared to the  growth of 4.4 per cent during April- May2018-19.

Four out of the eight core industries registered a positive growth rate in May 2019 over May 2018.

Steel sector has registered double digit growth of 19.9 percent in the month of May 2019 over May 2018, while electricity sector has registered growth of 7.2 percent in the month of May 2019 over May 2018, which is the highest in last six months, i.e. since November 2018.

Cement and Coal sectors have registered moderate growth of 2.8 percent and 1.8 percent respectively in the month of May 2019 over May 2018.

The production of Natural Gas has remained unchanged in the month of May 2019, with production of 2662.359 million cubic meters (MCM) as compared to May 2018.

However, the production of Crude Oil, Refinery products and Fertilizers sectors have declined by (-) 6.9 per cent, (-) 1.5 per cent and (-) 1.0 per cent respectively in the month of May 2019 over May2018.

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