NEW DELHI: Growth in the country’s crucial core sector held steady in Jan with expansion in cement and refinery products output but eased slightly from December.
Data released by the commerce and industry ministry on Friday-showed the eight core sector spanning coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity rose 4.6% in Jan, marginally lower than the 4.8% in Dec but a tad higher than the 4.2% recorded in Jan last year.
Cement sector soared to a 15-month high of 14.5% during the month. But two sectors — crude oil and natural gas — contracted and experts see IIP growth to remain sluggish in January.
In another development, Centre’s fiscal deficit touched 74.5% of the annual target at the end of Jan 2025, according to the data released by Controller General of Accounts (CGA). The deficit was 63.6% of Revised Estimates (RE) of 2023-24 in the year-ago period.