Country The growth rate of eight major industries increased to 4.6 percent in January, which was 4.2 percent in the same month a year ago. According to the official data released on Friday, the growth rate of eight basic industries in December 2024 was 4.8 percent. Coal production increased by 4.6 percent, steel production 3.7 percent and power generation 1.3 percent in January this year. In the same month last year, these industries increased by 10.6 percent, 9.2 percent and 5.7 percent respectively. However, in the month under review, the production of refinery products, fertilizers and cement increased to 8.3 percent, three percent and 14.5 percent respectively.
These 8 industries come in the core sector
The growth rate of basic industries during April-January in the current financial year was 4.4 percent. Whereas in the same period of the last financial year it was 7.8 percent. Major infrastructure industries include coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and power sectors. Eight major basic industries contribute 40.27 percent to the Industrial Production Index (IIP), which measures industrial growth at the overall level.
6.2% GDP growth rate
India’s economic growth rate declined to 6.2 percent mainly due to manufacturing and poor performance of mining sectors in the third quarter of FY 2024-25. According to data released on Friday by the National Statistics Office (NSO), the Indian economy registered an increase of 6.2 percent in the October-December 2024 quarter of the current financial year. Whereas in the same period of a year ago it increased at a rate of 9.5 percent. The GDP growth rate was 5.6 percent in the July-September quarter of the current financial year. Along with this, the NSO has said that the country’s growth rate for the current financial year in its second advance estimate of national accounts.
(PTI/Language)
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