The production of 8 major infrastructure sectors of the country has grown by 7.9 percent in the last month of September.
According to government statistics:
Output of eight infrastructure sectors grew by 7.9 per cent in September last year due to better performance of coal, fertiliser, cement and power sectors.
The production growth rate of those 8 sectors namely coal, crude oil, natural gas, refined materials, fertilizer, steel, cement and electricity was 5.4 percent in the same month of September last year. It was 4.1 percent last August and 13.1 percent the previous June.
The production growth of these 8 sectors was 9.6 percent in the April to September quarter of the current financial year. It was 16.9 percent in the corresponding months of the previous year.
Production of coal, fertiliser, cement and electricity rose by 12 per cent, 11.8 per cent, 12.1 per cent and 11 per cent respectively in September.
Production of refined products rose to 6.6 percent from 6 percent in the same month last year.
However, the figures suggest that crude oil and natural gas production declined by 2.3 per cent and 1.7 per cent respectively during the review month.
In a tweet published by Minister of Commerce and Industry, Piyush Goyal, he said, ‘India is considered as a country with a bright future due to the strength of its basic industries’.
Aditi Nai, Chief Economist of ICRA said, ‘In August this year, the production of 8 major sectors experienced an unexpected decline. At present, those sectors have recovered from the slump. We expect the IIP, an index of industrial production, to rise again in the range of 4 to 6 percent,” he said.
The above 8 major sectors contribute 40.27 percent of this IIP index number.