Core sector slows, fiscal deficit hits 55% of target
Electricity, cement and refinery products saw a marginal growth of 0.6%, 1.3% and 2.6% respectively, while oil witnessed a drop of 1%.
NEW DELHI: Eight core sector industries grew at the slowest pace of 3.8% in December on a year-on-year basis in past 14 months, as per commerce ministry data.
Except crude oil, all the remaining sectors witnessed positive growth with coal recording the highest growth at 10.6%, followed by natural gas at 6.6%, steel at 5.9% and fertilizers at 5.38%.
Electricity, cement and refinery products saw a marginal growth of 0.6%, 1.3% and 2.6% respectively, while oil witnessed a drop of 1%. During first nine months of FY24, fiscal deficit was Rs 9.82 trillion, which is 55% of the estimated Rs 17.87 trillion for the year. Total receipts during this period amounted to Rs 20.72 trillion, 76.3% of the annual estimate.
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