Core sector output shrank further

Part of: GS Prelims and Mains II – Economics – Growth and Development 

Context: 

  • The output of eight core sector industries shrank further. 
  • Economists expect the negative trend to continue for at least two more months. 
  • During April-­June 2020­21, the sector’s output dipped by 24.6% as compared to a positive growth of 3.4% in the same period previous year.  

Do you know? 

  • Of the eight core sectors, the fertilizer industry was the only one which saw actual growth. 
  • It reflects the positive outlook in the agriculture sector where a normal monsoon is leading to expectations of a bumper kharif crop. 
  • The remaining industries showed contraction, with the steel sector continuing to remain the worst performer. 
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