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NEW DELHI: Growth in the country’s key infrastructure sector slowed to a 15-month low in January, dragged down by contractions in refinery products and fertilisers, while steel and cement sectors remained strong.
Data released by the commerce and industry ministry on Thursday showed eight core sectors, spanning coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, grew 3.6% in January, slower than 4.9% in the previous months and below 9.7% recorded in January last year.
“Core sector growth slid to a 15 month low of 3.6% in January 2024, with contractions emerging in refinery products and fertilisers, and a sub-1% rise in natural gas. Encouragingly, the other five components displayed a moderate-to-healthy expansion, ranging from 5.2% to 10.2% in January 2024,” said Aditi Nayar, chief economist at ICRA.
Separate data showed fiscal deficit at January-end was at Rs 11 lakh crore or 63.6% of the revised annual estimates, narrower than 67.8% in the corresponding period last year.
Data released by the commerce and industry ministry on Thursday showed eight core sectors, spanning coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, grew 3.6% in January, slower than 4.9% in the previous months and below 9.7% recorded in January last year.
“Core sector growth slid to a 15 month low of 3.6% in January 2024, with contractions emerging in refinery products and fertilisers, and a sub-1% rise in natural gas. Encouragingly, the other five components displayed a moderate-to-healthy expansion, ranging from 5.2% to 10.2% in January 2024,” said Aditi Nayar, chief economist at ICRA.
Separate data showed fiscal deficit at January-end was at Rs 11 lakh crore or 63.6% of the revised annual estimates, narrower than 67.8% in the corresponding period last year.
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