Eight key infrastructure sectors in India witnessed an output decline for the 8th consecutive month. A decline of 2.5%, weighed down by a fall in production of crude oil, natural gas, petroleum refinery production, and steel.
As per figures released by the Department for Promotion of Investment and Internal Trade (DPIIT), remaining sectors posted an increase in production in October, with coal at 11.6%, fertiliser at 6.3%, cement at 2.8% and electricity at 10.5%.
Refinery products, with the highest weight of 28.04% in the index, registered the sharpest drop of 17%. It was followed by natural gas at 8.6%, crude oil at 6.2%, and steel at 2.7%.
In September, the core sector contraction had narrowed to 0.8% giving hopes of resurgence in manufacturing activity and economic revival but the October figures indicate that improvement may be gradual.
According to the release, during the April-October 2020-21 period, the eight-core sector has posted a decline of 13%.