India’s 8 core sectors’ output grew by 8.9 percent in June but the pace remained below the production levels seen before the COVID-19 pandemic as well as its second wave this year, indicating the economy’s recovery remains uneven.

Crude oil was the single component whose output fallen from a year earlier in the June Index of Eight Core Industries released by the Commerce and Industry Ministry on Friday, contracting 1.8 percent. Natural gas and steel both posted growth of more than 20 percent, while cement, coal, electricity, petroleum and fertilisers recorded moderate expansions in the range of 2 percent to 7.4 percent.

Notably, the core sectors had expanded by 60.3 percent in April and by 16.3 percent in May, thanks to the base effect linked to the sharp contraction in output last year due to the national lockdown. The government also revised the March index, pegging growth in that month at 12.6 percent from an earlier estimate of 6.8 percent.

Govt’s Fiscal Deficit stands 18.2 percent Of Annual Target By June 2021

Remote Work Transition Should Be Extremely Customized And Calculated" Says Nishant Shah.

US economy surpasses pre-pandemic volume with 6.5 percent Q2 growth