Core sector output in Jan grows 0.1%

Though production continued to decline in most core sectors in January, with cement and crude oil production being the most hit, electricity, steel and fertilizers recorded growth.

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The Washington-based global financial institution, in its annual World Economic Outlook ahead of the annual Spring meeting with the World Bank, said the Indian economy is expected to grow by 6.9 per cent in 2022. (File)

Production across the eight core sectors of the economy grew by a marginal 0.1 per cent this January over the same period a year ago, according to data shared by the Ministry of Commerce and Industry on Friday.

This is the second straight month that output in these industries has grown.

In December 2020, output across the core sectors had risen 0.2 per cent and, in November 2020, it had declined by 1.4 per cent, according to the ministry.

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Though production continued to decline in most core sectors in January, with cement and crude oil production being the most hit, electricity, steel and fertilizers recorded growth.

Meanwhile, the Centre’s fiscal deficit for FY21 soared to Rs 12.34 lakh crore, or 66.8 per cent, of the revised Budget Estimates (BE) at the end of January.

The deficit at the end of January in FY20 was 128.5 per cent of the RE.

At the end of the FY21, the fiscal deficit is likely to touch Rs 18.48 lakh crore, or 9.5 per cent, of the gross domestic product (GDP).

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In absolute terms, the fiscal deficit stood at Rs 12,34,004 crore at the end of January 2021, as per the data released by the Controller General of Accounts.

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