Economy | Big relief in the field of manufacturing, production of eight basic industries increased by 8.9 percent in June. Navabharat

New Delhi: The growth rate of eight basic industries in the country stood at 8.9 per cent in June this year. Basic industries registered decent growth mainly on the back of weak comparative base and increased production of natural gas, steel, coal and electricity.

Eight core industries – coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity – had declined 12.4 per cent in June last year. The reason for this was the ‘lockdown’ imposed across the country to prevent the Kovid-19 epidemic. The growth rate of basic industries in May this year was 16.3 per cent as against 60.9 per cent in April.

According to data from the Ministry of Commerce and Industry, production of coal, natural gas, refinery products, steel, cement and electricity grew by 7.4 per cent, 20.6 per cent, 2.4 per cent, 25 per cent, 4.3 per cent and 7.2 per cent, respectively.

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In June last year, coal, natural gas, refinery products, steel, cement and electricity production declined by 15.5 per cent, 12 per cent, 8.9 per cent, 23.2 per cent, 6.8 per cent and 10 per cent, respectively. Crude oil production declined by 1.8 percent in the month under review as against a decline of 6 percent in June 2020.

The fertilizer sector grew by 2 percent in the month of June. The growth rate of eight core industries during the April-June quarter of the current financial year was 25.3 per cent as against a decline of 23.8 per cent in the corresponding quarter of 2020-21 a year ago.(Agency)

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