Index of eight core industries for May, 2020 : Lockdown

Press Information Bureau

Government of India

Ministry of Commerce & Industry

30-June-2020 17:00 IST

INDEX OF EIGHT CORE INDUSTRIES (BASE: 2011-12=100) FOR MAY, 2020

The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing Index of Eight Core Industries for the Month of May, 2020.

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.

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In view of nationwide lockdownduring 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%.The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).Details of yearly/monthly index and growth rate is provided at Annexure.

Monthly growth rates of Index of Eight Core Industries (Overall) are depicted in the graph:

5. The summary of the Index of Eight Core Industries is given below:

Coal- Coal production (weight: 10.33per cent) declinedby 14.0 per cent in May, 2020 over May,2019. Its cumulative index declined by 14.7per cent during April toMay, 2020-21over corresponding period of the previous year.

Crude Oil-Crude Oil production (weight: 8.98per cent) declined by 7.1 per cent inMay, 2020 over May,2019. Its cumulative index declined by 6.7 per cent during April toMay, 2020-21over the corresponding period of previous year.

Natural Gas- The Natural Gas production (weight:6.88per cent) declinedby16.8 per cent in May, 2020 over May,2019. Its cumulative index declined by 18.3 per cent during April to May, 2020-21 over the corresponding period of previous year.

Refinery Products- Petroleum Refinery production (weight: 28.04per cent) declined by 21.3 per cent in May, 2020 over May,2019. Its cumulative index declinedby 22.7per cent during April to May, 2020-21over the corresponding period of previous year.

Fertilizers-Fertilizers production (weight: 2.63 per cent) increased by 7.5 per cent in May, 2020 overMay,2019. Its cumulative index increasedby 2.0 per cent during April toMay, 2020-21 over the corresponding period of previous year.

Steel-Steel production (weight: 17.92per cent)declinedby 48.4 per cent inMay, 2020 over May,2019. Its cumulative index declined by 63.3per centduring April to May, 2020-21 over the corresponding period of previous year.

Cement-Cement production (weight:5.37per cent) declinedby22.2per cent inMay, 2020overMay,2019. Its cumulative index declinedby54.1per centduring April to May, 2020-21over the corresponding period of previous year.

Electricity- Electricity generation (weight:19.85per cent) declinedby15.6per centin May, 2020over May,2019. Its cumulative indexdeclined by19.1per cent duringApril to May, 2020-21over the corresponding period of previous year.

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Note 1: Data for March, 2020, April, 2020and May, 2020are provisional.

Note 2: Since April, 2014, Electricity generation data from Renewable sources are also included.

Note 3: The industry-wise weights indicated above are individual industry weight derived from IIP and blown up on pro rata basis to a combined weight of ICI equal to 100.

Note 4: Since March 2019, a new steel product called Hot Rolled Pickled and Oiled (HRPO) under the item ‘Cold Rolled (CR) coils’ within the production of finished steel has also been included.

Note5: Release of the index for June, 2020 will be on Friday,31stJuly, 2020.

Annexure

Performance of Eight Core Industries

Yearly Index & Growth Rate

Base Year: 2011-12=100

Index

Sector	Weight	2012-13	2013-14	2014-15	2015-16	2016-17	2017-18	2018-19	2019-20	Apr-May 2019-20	Apr-May 2020-21
Coal	10.3335	103.2	104.2	112.6	118.0	121.8	124.9	134.1	133.6	125.0	106.5
Crude Oil	8.9833	99.4	99.2	98.4	97.0	94.5	93.7	89.8	84.5	86.9	81.1
Natural Gas	6.8768	85.6	74.5	70.5	67.2	66.5	68.4	69.0	65.1	67.6	55.3
Refinery Products	28.0376	107.2	108.6	108.8	114.1	119.7	125.2	129.1	129.4	126.9	98.2
Fertilizers	2.6276	96.7	98.1	99.4	106.4	106.6	106.6	107.0	109.8	97.3	99.2
Steel	17.9166	107.9	115.8	121.7	120.2	133.1	140.5	147.7	152.3	159.1	58.4
Cement	5.3720	107.5	111.5	118.1	123.5	122.0	129.7	147.0	145.7	150.9	69.3
Electricity	19.8530	104.0	110.3	126.6	133.8	141.6	149.2	156.9	158.3	169.8	137.4
Overall Index	100.0000	103.8	106.5	111.7	115.1	120.5	125.7	131.2	131.6	133.8	93.7

Growth Rates (in per cent)

Sector	Weight	2012-13	2013-14	2014-15	2015-16	2016-17	2017-18	2018-19	2019-20	Apr-May 2019-20	Apr-May 2020-21
Coal	10.3335	3.2	1.0	8.0	4.8	3.2	2.6	7.4	-0.4	2.4	-14.7
Crude Oil	8.9833	-0.6	-0.2	-0.9	-1.4	-2.5	-0.9	-4.1	-5.9	-6.8	-6.7
Natural Gas	6.8768	-14.4	-12.9	-5.3	-4.7	-1.0	2.9	0.8	-5.6	-0.4	-18.3
Refinery Products	28.0376	7.2	1.4	0.2	4.9	4.9	4.6	3.1	0.2	1.3	-22.7
Fertilizers	2.6276	-3.3	1.5	1.3	7.0	0.2	0.03	0.3	2.7	-2.6	2.0
Steel	17.9166	7.9	7.3	5.1	-1.3	10.7	5.6	5.1	3.2	13.3	-63.3
Cement	5.3720	7.5	3.7	5.9	4.6	-1.2	6.3	13.3	-0.9	2.5	-54.1
Electricity	19.8530	4.0	6.1	14.8	5.7	5.8	5.3	5.2	0.9	6.7	-19.1
Overall Growth	100.0000	3.8	2.6	4.9	3.0	4.8	4.3	4.4	0.3	4.5	-30.0

Performance of Eight Core Industries

Monthly Index & Growth Rate

Base Year: 2011-12=100

Index

Sector	Coal	Crude Oil	Natural Gas	Refinery Products	Fertilizers	Steel	Cement	Electricity	Overall Index
Weight	10.3335	8.9833	6.8768	28.0376	2.6276	17.9166	5.3720	19.8530	100.0000
May-19	127.3	88.2	68.7	129.6	105.5	161.8	149.3	176.8	137.0
Jun-19	123.5	84.7	66.0	121.4	110.0	159.3	147.9	173.6	132.8
Jul-19	106.4	87.2	68.1	132.9	111.7	151.7	146.5	170.5	132.6
Aug-19	94.8	86.6	67.4	131.0	112.6	150.0	127.7	165.7	128.5
Sep-19	87.3	83.4	64.3	117.5	113.9	141.2	131.3	158.7	120.7
Oct-19	109.6	86.3	66.3	134.2	115.5	149.5	137.0	145.8	127.4
Nov-19	133.6	82.4	64.4	133.0	116.7	154.9	142.4	139.9	129.2
Dec-19	152.9	83.5	65.5	130.5	120.5	165.2	159.2	150.2	135.5
Jan-20	164.7	85.0	65.3	134.4	116.5	155.4	164.1	155.6	137.4
Feb-20	171.1	75.6	58.3	128.9	107.8	152.9	160.7	153.6	134.0
Mar-20	209.7	85.0	60.1	135.3	98.3	129.6	129.8	146.9	133.3
Apr-20	103.7	80.2	53.3	94.2	85.0	33.3	22.5	125.5	82.3
May-20	109.4	82.0	57.2	102.1	113.4	83.4	116.1	149.3	105.0

Growth Rates (in per cent)

Sector	Coal	Crude Oil	Natural Gas	Refinery Products	Fertilizers	Steel	Cement	Electricity	Overall Growth
Weight	10.3335	8.9833	6.8768	28.0376	2.6276	17.9166	5.3720	19.8530	100.0000
May-19	1.7	-6.9	-0.1	-1.5	-1.0	13.3	2.8	7.4	3.8
Jun-19	2.9	-6.8	-2.1	-9.3	1.5	10.8	-1.9	8.6	1.2
Jul-19	-1.6	-4.4	-0.5	-0.9	1.5	8.1	7.7	5.2	2.6
Aug-19	-8.6	-5.4	-3.9	2.6	2.9	3.8	-5.1	-0.9	-0.2
Sep-19	-20.5	-5.4	-4.9	-6.6	5.4	-1.4	-2.0	-2.6	-5.1
Oct-19	-17.6	-5.1	-5.6	0.4	11.8	-0.5	-7.7	-12.2	-5.5
Nov-19	-3.5	-6.0	-6.4	3.1	13.6	7.0	4.3	-4.9	0.7
Dec-19	6.1	-7.4	-9.2	3.0	10.2	8.7	5.5	0.0	3.1
Jan-20	8.0	-5.3	-9.0	1.9	-0.1	1.6	5.1	3.2	2.2
Feb-20	11.3	-6.4	-9.6	7.4	2.9	2.9	7.8	11.5	6.4
Mar-20	4.0	-5.5	-15.1	-0.5	-11.9	-24.1	-25.1	-8.2	-9.0
Apr-20	-15.5	-6.4	-19.9	-24.2	-4.5	-78.7	-85.3	-23.0	-37.0
May-20	-14.0	-7.1	-16.8	-21.3	7.5	-48.4	-22.2	-15.6	-23.4

Source : PIB

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