October 30, 2021 3:45:40 am
The growth of output in eight core sectors fell to 4.4 per cent in September from 11.5 per cent in August on the back of high rainfall dampening mining and construction activities.
Key sectors that helped growth were natural gas, refinery products, and cement, which saw production rise by 27.5 per cent, 6 per cent and 10.8 per cent, respectively.
Experts said the low growth in core industries indicated that growth in total factory production as measured by the Index of Industrial Production (IIP) would also likely fall. The core sector has a weight of 40.3 per cent in the IIP.
Fiscal deficit at 35% of BE
The Central government’s fiscal deficit stood at Rs 5.26 lakh crore or 35 per cent of the Budget Estimates at the end of September 2021, according to data released by the Controller General of Accounts (CGA) on Friday.
Experts noted that a sharp increase in revenues compared to the year-ago period and relatively small increase in government expenditure meant that the fiscal deficit in FY22 is likely to be lower than the 6.8 per cent of GDP announced in the Budget.
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