New Delhi: The output of India’s eight major industries crashed in March 2020 by (-) 6.5 per cent from a rise of 7.1 per cent reported in February, 2020. Also Read - Battling Profitability, Reliance Industries Announces 50% Salary Cut For Employees
The massive magnitude of last month’s fall was also evident on year-on-year basis. The Index of Eight Core Industries had risen by 5.8 per cent in March 2019. The eight core industries include coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.
As per the ECI, barring crude oil, natural gas and steel, all other sectors expanded in February. The ECI comprises over 40 per cent of the weight of items included in the Index of Industrial Production (IIP).