India's core sector growth slows to just 0.1 pc in Oct
New Delhi: India’s core sector recorded a growth of a meager 0.1 percent in October compared to an 8.7 percent growth in the same month in the previous fiscal.
India’s core sector comprises eight core industries: coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity.
Production in all the sectors dropped in FY23 as compared to FY22.
The production growth of eight infrastructure sectors was 8.2 percent during April-October this fiscal, while it was 15.6 percent in the year-ago period.
In October, all the core industries recorded growth rate in negative.
During the period, fertilisers, coal, steel and electricity generation increased in comparison to October of last year.
Among the eight core industries, the cement sector was the worst performer, with production contracting by 4.3 percent in October 2022 compared to October 2021.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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