India's key infra sectors' growth slows to 6.3% in May

India’s key infra sectors’ growth slows to 6.3% in May

Posted by Admin June 28, 2024 Infra

Growth of the eight core sectors in India slowed to 6.3 per cent on an annual basis in May, mildly down from 6.7 per cent registered in April, government data showed on Friday.

These sectors had grown 5.2 per cent in May 2023. April’s reading of 6.3 per cent was revised upwards to 6.7 per cent.

The cumulative growth rate of the combined Index of Eight Core Industries (ICI) during April-May 2024 was 6.5 per cent on a year-on-year basis.

“The production of electricity, coal, steel, natural gas and refinery products recorded positive growth in May 2024,” the Ministry of Commerce & Industry said in a statement.

The ICI serves as a crucial barometer, measuring both the collective and individual performance of eight core industries, namely cement, coal, crude oil, electricity, fertilisers, natural gas, refinery products, and steel.

These industries collectively account for 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).(More to come)