INSUBCONTINENT EXCLUSIVE:
industry department showed output growth of coal (12 per cent), steel (6.7 per cent), electricity (11 per cent), and cement (12.1 per cent)
accelerated compared to the preceding month
However, the output growth of refinery products (6.6 per cent) and fertilisers (11.8 per cent) decelerated
Crude oil (-2.3 per cent) and natural gas (-1.7 per cent) production contracted for the fourth and third consecutive months,
respectively.
The cumulative growth of the core sector in the first half of FY23 (April-September) was recorded at 9.6 per cent,
significantly lower than the 16.9 per cent recorded in the same period last year.
Trade Minister Piyush Goyal expressed his appreciation
for the growth in the core industries in a Twitter post
Bank of Baroda, said the recovery in September was a result of higher capex by the Centre as both the steel and cement registered high
growth was impressive in the other six sectors
Based on growth of 7.9 per cent in September, we may expect growth in the region of 4-5 per cent in (the upcoming) Index of Industrial
in 2022, a 0.6 percentage point downgrade since the July forecast, reflecting a weaker-than-expected outturn in the second quarter
Shaktikanta Das said last month in his last monetary policy statement.
