July 03, 2020 00: 15 IST.
Updated:.
July 03, 2020 01: 00 IST.
July 03, 2020 00: 15 IST.
Upgraded:.
July 03, 2020 01: 00 IST.
As output and demand slow, India needs to keep twin focus on the pandemic and economy
Ouput in the eight core industries suffered an overall contraction for a third straight month in May, diminishing 23.4%, as the pandemic-induced lockdown kept big parts of the economy shuttered, the Commerce Ministry’s provisionary figures show. Refinery items, with the largest weight in the index contributing 28%, contracted 21.3%as the curbs on vehicular movement stymied demand for automobile fuels. Coal production likewise fell for a second straight month, decreasing 14%, as the absence of need for electrical energy from the country’s fact