Growth of core sector output recovers to 3-month high in September

The Reserve Bank of India last month also revised its growth forecast for FY23 to 7 per cent from 7.2 per cent estimated earlier

Production of eight infrastructure industries that comprise the core sector recovered to grow at 7.9 per cent in September — a three-month high — owing to a favourable base and double-digit growth in output of fertilisers, cement, and electricity.

The data released by the 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)