Question : How much IndexofEightCoreIndustries declined for May 2020 ?
(a) declined by 23.4% (provisional)
(b) declined by 40.5% (provisional)
(c) declined by 50% (provisional)
(d) declined by 60% (provisional)
Answer : (a)
Related facts
Context
- IndexofEightCoreIndustries released on 30th June, 2020.
- Issuer – The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade released this index.
Summary
- The growth rate of Index of Eight Core Industries for May 2020 declined by 23.4% (provisional) compared to decline of 37 percent (provisional) in previous month of April 2020.
- Its cumulative growth during April to May, 2020-21 was -30.0 per cent.
- In view of nationwide lock down during April& May 2020 due to COVID-19 pandemic, various industries viz. Coal, Cement, Steel, Natural Gas, Refinery, Crude Oil etc.experienced substantial loss of production.
- Final growth rate of Index of Eight Core Industries for February’2020 is revised at 6.4%.
Industries
- Coal- Coal production (weight: 10.33 per cent) declinedby 14.0 percent in May, 2020 over May, 2019.
- Crude Oil- Crude Oil production (weight: 8.98 per cent) declined by 7.1 percent in May, 2020 over May,2019.
- Natural Gas- The Natural Gas production (weight: 6.88 per cent) declined by 16.8 percent in May, 2020 over May,2019.
- Refinery Products- Petroleum Refinery production (weight: 28.04 per cent) declined by 21.3 percent in May, 2020 over May, 2019.
- Fertilizers- Fertilizers production (weight: 2.63 per cent) increased by 7.5 percent in May, 2020 over May,2019.
- Steel- Steel production (weight: 17.92 per cent)declined by 48.4 percent in May, 2020 over May,2019.
- Cement- Cement production (weight: 5.37 per cent) declined by 22.2 percent in May, 2020 over May, 2019.
- Electricity- Electricity generation (weight: 19.85 per cent) declined by 15.6 percent in May, 2020over May,2019.
By — Pankaj Pandey
Link :
https://pib.gov.in/newsite/PrintRelease.aspx?relid=209814