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India's core sector growth rises to 14-month high of 12.1% in August
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India's core sector growth rises to 14-month high of 12.1% in August
Sep 29, 2023 8:43 AM

India's output of eight infrastructure sectors rose to a 14-month high of 12.1 percent in August 2023 against 4.2 percent a year ago, according to government data released on Thursday (September 28).

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The production of refinery products, steel, cement, and electricity also grew in August, the data showed. Core sector growth in July was 8.4 percent.

Cement production, a key indicator of construction activity, surged by 18.9 percent. Similarly, coal production recorded a substantial increase of 17.9 percent.

Also Read: India's fiscal deficit hits 36% of full-year target in first five months of 2023-24

Crude oil production edged up by 2.1 percent, the electricity generation sector saw a substantial increase of 14.9 percent and the steel industry experienced a remarkable uptick in production, increasing by 10.9 percent.

Fertiliser production registered a steady increase of 1.8 percent and natural gas production surged by 10 percent. The petroleum refinery sector also witnessed significant growth, with production up by 9.5 percent.

The core sector or key infrastructure industries have 40.27 percent of the weight in the overall Index of Industrial Production (IIP).

(Edited by : Shoma Bhattacharjee)

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