Infrastructure Output Of Core Sectors Rises 16.8% In May 2021
Infrastructure Output in May 2021: The output of eight core infrastructure sectors rose to 16.8 per cent in May 2021, compared to last year, according to government data on Wednesday, June 30. The output registered a de-growth of 21.4 per cent in the same month last year when the COVID-induced lockdown hit industrial activity. The infrastructure output, which comprises eight core sectors such as electricity, coal, crude oil, among others, recorded a growth of 35.8 per cent (provisional) during April-March 2020-2021, compared to the de-growth of 29.4 per cent in the corresponding period of the previous financial year.
The combined index of the eight core industries stood at 125.8 in May 2021, according to provisional data released by the Ministry of Commerce and Industry today. The growth in the infrastructure output in May was mostly led by the steel sector, followed by the natural gas and petroleum refinery product sectors. The eight core industries comprise 40.27 per cent of the total weight of items included in the industrial output or the Index of Industrial Production (IIP).
The production of steel, natural gas, and petroleum refinery products sectors increased by 59.3 per cent, 20.1 per cent, and 15.3 per cent respectively. The production of coal, cement, and electricity sectors also registered growth in May, compared to the corresponding period last year. Crude oil and ferilizers were the only two sectors that registered a de-growth in production at 6.3 per cent and 9.6 per cent, respectively according to Commerce Ministry data.
Meanwhile, the industrial production, or the factory output, gauged by the Index of Industrial Production (IIP), grew 13.4 per cent in March, government data showed earlier in the month. Industrial production registered a sharp recovery due to the low base effect as the pandemic-induced lockdown hit economic activity last year in the same period.
