Image Source : PTI The eight core sectors contribute 40.27 per cent to the Index of Industrial Production (IIP).
The output of eight key infrastructure sectors – that includes coal, refinery products, fertiliser, and steel – slowed down to 4 per cent in December 2024, according to official data released on Friday. The data shows that the growth rate of these sectors was 5.1 per cent a year ago.
On a monthly basis, the growth rate in the production of these sectors was lower than the 4.4 per cent expansion recorded in November 2024.
In December, the production of natural gas output recorded a negative growth.
“The production growth of coal, refinery products, fertiliser, and steel moderated to 5.3 per cent, 2.8 per cent, 1.7 per cent, and 5.1 per cent, respectively, against 10.8 per cent, 4.1 per cent, 5.9 per cent and 8.3 per cent in December last year,” PTI reported.
However, cement and electricity output rose to 4 per cent and 5.1 per cent in the month under review.
The growth of core sectors — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity — was 4.2 per cent during April-December this fiscal. It was 8.3 per cent in the same period last fiscal.
The eight core sectors contribute 40.27 per cent to the Index of Industrial Production (IIP), which measures overall industrial growth.
Earlier, Union Minister Mansukh Mandaviya said the government’s infrastructure investment budget should be Rs 15 lakh crore per annum, against Rs 11.5 lakh crore at present, for the next 25 years to achieve ‘Viksit Bharat @2047’ and social security for all.
This assumes significance in view of India’s 100 years of independence in 2047 and the government’s goal of ‘Viksit Bharat@2047’.
Addressing the inaugural of ISSA-ESIC International Seminar ‘Formalization & Social Security Coverage for Workers in the Informal Sector Challenges & Innovation’, Mandaviya stated that the infrastructure investment budget was Rs 1.2 lakh crore in 2012 and this budget was Rs 2.4 lakh crore in 2014 under the Narendra Modi-led government.
With PTI inputs
