core sector data: India’s key infra sectors’ growth slows to 4% in June

Growth of the eight core sectors in India slowed to 4 per cent on an annual basis in June, down from 6.3 per cent registered in May, government data showed on Friday. These sectors had grown 8.2 per cent in June 2023.The production of Coal, electricity, natural gas, Steel, fertilizer sand cement recorded positive growth in June 2024, said the government in a press release.

Coal production grew 14.8% in June, while electricity generation rose 7.7%, compared to a 10.2% and 13.7% growth in May, respectively.

Steel production grew 2.7%, against a 6.8% increase a month earlier. Natural gas output rose 3.3%, compared to a 7.5% jump in the previous month.

Cement production rose 1.9%, compared with May’s 0.6% drop, and fertiliser production increased 2.4% in June, compared with a fall of 1.7% in May.

However, output of refinery products declined 1.5% against a 0.5% rise in May, while crude oil production fell 2.6%, compared with a 1.1% drop in May.During April-June this fiscal, the output of core sectors rose by 5.7 per cent against 6 per cent in the same period last fiscal.The ICI serves as a crucial barometer, measuring both the collective and individual performance of eight core industries, namely cement, coal, crude oil, electricity, fertilisers, natural gas, refinery products, and steel.

These industries collectively account for 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).