Growth of eight key infrastructure sectors slowed down to 8.2 per cent in June 2023 compared to the year-ago month due to a decline in the production of crude oil, natural gas, and electricity, as against 5 per cent in May, a government press release stated on Monday.
The core sector growth was 13.1 per cent in June 2022, the Commerce Ministry data showed.
Steel, coal, cement, refinery products, natural gas, fertilisers and electricity witnessed a growth of in June 2023 over corresponding month of last year, data showed.
Refinery products saw a growth of 4.6 per cent, in comparison to a growth of 28.04 per cent in the same month a year ago. Steel sector registered a growth of 21.9 per cent while cement and fertilisers grew 9.4 cent and 3.4 per cent each.
The index of eight core industries (ICI) measures combined and individual performance of production of core industries viz. coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity. They comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
The cumulative growth rate of ICI during the quarter April to June in the ongoing financial year reported 5.8 per cent (provisional) against 13.9 per cent in the year-ago period, government said.
Source Name : Economic Times