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India’s core sector output shrank 23.4% in May, shows government data


India’s core sector output shrank 23.4% in May as the coronavirus crisis continue to batter the economy, government data released on Tuesday showed. The index of eight core industries had expanded by 3.8% in May 2019. However, the contraction eased from a record 37% in the previous month.

Except fertiliser, there was a massive decline in production in all seven sectors of coal, crude oil, natural gas, refinery products, steel, cement and electricity. The steepest decline was observed in steel production, which fell 48.4%. This was followed by cement, which saw a 22.2% drop. Fertiliser ...


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