Core Industry:

News:
  • According to data released by the Commerce Ministry, the output of eight core sector industries shrank 23% in May 2020.
  • This is the third straight month of contraction in the core sector.
More in the news:
  • Of the eight core sectors, the fertilizer industry was the only one which saw actual growth in output in May, rising 7.5% in comparison to May 2019.
  • The rest continued to contract, with the steel sector performing the worst and recording a 48.4% fall.
About Core Sectors:
  • Core industry can be defined as the main industry of the economy. It is particularly considered to be backbone of all other industries.
  • In India, there are eight core sectors comprising of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.
  • The electricity has the maximum weight of 10.32% followed by Steel (6.68%), Petroleum Refinery (5.94%) with Fertilizer production (1.25%) having lowest weight.
Posted by Jawwad Kazi on 1st Jul 2020
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