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India's Core Sector Growth At 9-month High In June

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Signalling improving economic activity. India's annual infrastructure sector growth hit a nine-month high of 7.3 per cent in June, government data showed on Thursday, led by a surge in cement and electricity output.

The output recorded an annual 2.3 per cent expansion in May.

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

Activity in the eight core sectors -- coal, crude oil, natural gas, petroleum refinery products, fertilizers, steel, cement and electricity – are considered as vital cog in economic growth and a higher growth number should reflect in heightened industrial activity and GDP growth numbers for the quarter, economists said. The April-June quarter core sector growth stood at 4.6 per cent versus 3.7 per cent in the same quarter last year, data showed. The eight core sector industries carry a 37.9 per cent weightage in the index of industrial production.

The April-June quarter core sector growth stood at 4.6 per cent versus 3.7 per cent in the same quarter last year, data showed. The eight core sector industries carry a 37.9 per cent weightage in the index of industrial production.

GDP growth in the most recent quarter grew at 4.6 per cent, capping two years of below 5 percent growth.


 


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