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Core Sector Growth At 2-mth High Of 5.8%

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India's annual infrastructure output growth accelerated to a two-month high of 5.8 per cent in August, government data showed on Tuesday (30 September), helped by a jump in steel and coal production.

The output expanded 2.7 percent year-on-year in July.

The sector, which comprises coal, crude oil, oil refining, natural gas, steel, cement, electricity and fertilisers, accounts for 37.9 percent of India's industrial output

Good performance by the coal, cement and electricity generation sectors lifted the eight core sectors’ growth rate to 5.8 per cent in August against 4.7 per cent in the same month last year.

Coal production grew 13.4 per cent, cement 10.3 per cent and electricity generation was up 12.6 per cent, according to official data released on Tuesday. Steel production grew 9.1 per cent against 8.1 per cent in August 2013.

The negative-growth sectors include crude oil output, which shrank 4.9 per cent and natural gas production declined by 8.3 per cent. Refinery products output was down 4.3 per cent and fertilizer production fell 4.3 per cent. Cumulatively, in the first five months of 2014-15, the eight sectors grew 4.4 per cent against marginally faster than the 4.2 per cent in the same period of the previous year.

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