INSUBCONTINENT EXCLUSIVE:
Infrastructure output declined for the third straight month in December 2020Infrastructure Output in December 2020: The output of eight core
infrastructure sectors contracted for the third month in a row by 1.3 per cent in December 2020, due to a decline in the output of crude
oil, natural gas, refinery products, fertiliser, steel, as well as cement sectors
Apart from coal and electricity, all the other sectors recorded negative growth in December 2020
Ministry of Commerce and Industry, the output of crude oil, natural gas, refinery products, fertiliser, steel and cement declined by 3.6 per
cent, 7.2 per cent, 2.8 per cent, 2.9 per cent, 2.7 per cent, and 9.7 per cent, respectively
The growth in coal production declined to 2.2 per cent in the month under review from 6.1 per cent in the same month last year
However, electricity output grew by 4.2 per cent in December 2020
The eight core industries constitute 40.27 per cent of the Index of Industrial Production (IIP).Commenting on the data, ICRA Principal
"Based on the plateau in the core sector data, juxtaposed with the uptick in auto production trends and recovery in non-oil merchandise
exports, we expected the IIP to rebound to a modest growth of 0.5-1.5 per cent in December 2020, trailing the level seen in October 2020,"
oil, refineries, natural gas, steel, and cement
