Output accelerated by only 0.1% in October; 4 of 8 core industries reported production contraction
The Reserve Bank of India last month also revised its growth forecast for FY23 to 7 per cent from 7.2 per cent estimated earlier
The Reserve Bank of India (RBI) on Friday pared its growth forecast for FY23 to 7 per cent from 7.2 per cent estimated earlier
The growth in these eight sectors witnessed double digits growth in May and June at 19.3% and 13.2%, respectively
8 infra sectors grew 12.7% YoY in June; there was a contraction MoM
The data shows broad-based improvement in core sector growth benefitting from a low base, with the exception of coal
A coal shortage could aggravate power cuts in many states, leading to economic growth losing momentum.
The growth rate of the eight infrastructure sectors - coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity - had expanded by 6 per cent in February
In October, core sectors' output had grown by 8.4%
Except crude oil, 7 sectors have shown an uptick YoY
The production of eight core industries rose by 9.4 per cent in July against a 7.6 per cent decline in the year-ago month, official data released on Tuesday showed.
Steel, refinery products, cement, electricity, crude oil witnessed contraction due to restrictions imposed by various state governments
GDP is implicitly projected by NSO to slip back into contraction of 1.1% in Q4FY21. This appears to be an outcome of the back-ended release in the Govt's subsidies that is on the anvil in Q4
During April-December 2020-21, the sectors' output declined by 10.1 per cent against a growth rate of 0.6 per cent in the same period of the previous year
Contraction due to decline in production of crude oil, natural gas, refinery products and steel
Refinery production impacted the most, coal production rises after 4-months
Infra segment, refinery product impacted the most, even as contraction narrows in latest month
In May, the production of refinery products, a key export item, took the biggest hit. Output fell by 21.3 per cent after contracting by 24.2 per cent in April
Infra segment hurt the most as cement and steel output tank by more than 80 per cent
Large-scale contraction across sectors in April; which way the GDP will go depends largely on how long the lockdown stays