Key infra sectors' growth drops to 3.1% in Oct from 12.7% last year

The output of eight key infrastructure sectors expanded by 3.1 per cent in October 2024, sharply down from a 12.7 per cent growth registered in the same month last year, according to official data released on Friday. 

On a monthly basis, the production growth of these sectors was higher than the 2.4 per cent expansion recorded in September 2024. 

In October, production of crude oil and natural gas declined. Production growth of coal, fertiliser, steel, cement and electricity moderated to 7.8 per cent, 0.4 per cent, 4.2 per cent, and 0.6 per cent respectively, as against 18.4 per cent, 5.3 per cent, 16.9 per cent and 20.4 per cent in October last year. 

However, refinery products output rose to 5.2 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 4.1 per cent during April-October this fiscal. It was 8.8 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.