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  • 25 March, 2021

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Core infrastructure Sector

Core infrastructure Sector

Year on the Year Growth rate of 8 Core Industries vis-à-vis COVID.

  • Core industries have been adversely affected by the Covid-19 pandemic
  • Except for Fertilizers, all the sectors witnessed a fall in growth.
  • During covid major drop was witnessed by sectors like cement (-85%), steel(-82.8%), Refinery Product(-21.3 %) and Electricity(-22.9%) in the month of April.
  • Y-o-Y basis, the sectors Cement(-16%), Steel(-14%), Refinery(-12.4%), Natural gas(10.7%) witnessed a sharp fall in growth due to lock down.
  • Coal Sector witnessed a sharp rise (7.4%) in 2018-19 due to Mission Shakti but fell after that due to de-licensing, Pandemic- leading to decreasing imports and exports.
  • Crude oil was trailing in a slow growth trajectory even before the pandemic due to the Shale gas industry of the USA, sanctions. COVID affected the situation even more.

· Index of Eight Core Industries (ICI) , a Production Volume Index to Measure the performance of production in selected eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.

After COVID, Measures introduced to boost Core Sector are:-

· Mining sector : Major initiatives under Atmanirbhar Bharat Abhiyan, which inter alia include: (a) composite exploration-cum-mining cum-production regime (b) open and transparent auction; (c) joint auction of bauxite and coal mineral blocks; (d) removal of distinction between captive and non-captive mines; (e) Mineral index for different mineral; and (f) rationalization of stamp duty.

· PLI, Production-Linked Incentive Schemes: Medical devices; mobile phones; electronic components; pharmaceutical drugs; telecom and network equipment; and electronic technology products, ‘speciality steel ’production.

· Project Development Cells (PDCs).

· Textile: MITRA Parks with plug-and-play facilities, rationalized customs duty.

· Domestic Manufacturing: Measures by DPIIT like Public Procurement Rules to enhance minimum local content; setting up of Fund of Funds, Seed Fund, Credit guarantee Schemes.

· Integrated Power Development Scheme (IPDS)- 24x7 power supply in the urban areas.

· Major reforms in ­infrastructure and housing schemes policy .

· National Infrastructure Pipeline.

  • Infrastructure and housing schemes-PMAY, PMGSY, SBM, JAL JEEVAN MISSION.

Source: PIB

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