 "Growth of 8 core sectors slows to 2.1% in July, recovers from 50-month low")
The output of eight key infrastructure sectors jumped by 12.1 per cent in October 2023 against 0.7 per cent expansion in the year-ago period on account of a sharp uptick in production of coal, steel, cement and electricity, according to the official data released on Thursday.
These numbers assume significance as the eight core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- contribute 40.27 per cent to the Index of Industrial Production (IIP).
Growth was primarily driven by a low base effect and double-digit growth in five sectors -- coal, steel, cement and electricity.
Infrastructure sectors grew by 9.2 per cent in September.
The output growth of eight sectors was at 8.6 per cent in April-October 2023-24 against 8.4 per cent in the year-ago period.
Coal output rose by 18.4 per cent while steel production jumped 11 per cent during the month under review as against 3.8 per cent and 5.8 per cent in October 2022 respectively.
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Cement production grew by 17.1 per cent against a 4.2 per cent contraction in the year-ago period. Electricity generation rose by 20.3 per cent in October 2023 against 1.2 per cent in the same month last year.
Output of crude oil and natural gas increased by 1.3 per cent and 9.9 per cent in October this year respectively as against a negative growth of 2.2 per cent and 4.2 per cent in October 2022 respectively.
Refinery products production stood at 4.2 per cent in October this year as against (-) 3.1 per cent in October 2022.
Fertiliser production growth stood at 5.3 per cent in October this year as against 5.4 per cent in October 2022.
