Core sector output rises 7.9 per cent in September

NEW DELHI:  The output of eight core infrastructure sectors rose 7.9% in September 2022, as compared with 5.4% in the same month last year, according to the government data released on Monday. 

These eight core industries include coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity. In August this year, the infrastructure output grew by 4.1%. In April-September, the production growth in these eight infrastructure sectors was 9.6% as against 16.9% a year ago. 

“No doubt the YoY growth as per the latest figures has been good, but the core sector output continues to be weak when compared with the pre-COVID level (February 2020).” “Output in September 2022 is only 3.1% higher than the pre-COVID level, with output of four sectors viz. coal, crude oil, petroleum & refinery products and cement still trailing the pre-COVID output level.

This underscores Ind-Ra’s view that the industrial recovery under way still has a lot of ground to cover, before it can be considered a meaningful recovery,” said Dr. Sunil Sinha, Principal Economist, India Ratings.