Output of infra sector grows 12%

Output of eight infrastructure industries grew 12.1% in August, its fastest pace in 14 months, aided by double-digit growth in coal, gas, refinery products, cement, steel and electricity sectors, commerce ministry data showed.

- Rhik Kundu

Experts said this is expected to help maintain robust industrial output in August.

The eight core industries make up for two-fifth of the weight of the items included in the Index of Industrial Production (IIP). Overall industrial output had grown 4.8% this fiscal till July.

Data separately released by the Controller General of Accounts (CGA) on Friday showed that India's fiscal deficit in the first five months of FY24 stood at 26.43 lakh crore, or 36% of the annual estimate of ₹17.87 lakh crore.

In the same period of FY23, fiscal deficit had stood at 25.42 lakh crore, or 32.6% of the year's target of 16.61 lakh crore. Experts said the fiscal deficit target for this year is achievable.