The output of eight core infrastructure sectors grew 3.3 per cent in August — the lowest in nine months — against 12.2 per cent in the year-ago period, official data released on Friday showed.
The previous low was in November 2021 at 3.2 per cent. It stood at 4.5 per cent in July.
The production growth of eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity — was 9.8 per cent during April-August this fiscal compared with 19.4 per cent a year ago.
The output of crude oil and natural gas contracted by 3.3 per cent and 0.9 per cent, respectively, during the month under review. In August, the fertiliser output rose 11.9 per cent against a contraction of 3.1 per cent in the same month last year.
The growth rates for coal, refinery products, steel, cement and electricity slowed to 7.6 per cent, 7 per cent, 2.2 per cent, 1.8 per cent and 0.9 per cent, respectively.
Fiscal deficit
The central government’s fiscal deficit touched 32.6 per cent of the annual target in the current financial year till August against 31.1 per cent recorded a year ago, the data released Friday showed.
In actual terms, the fiscal deficit — the difference between expenditure and revenue — was Rs 5,41,601 crore during the April-August period of this financial year. Fiscal deficit is an indicator of government’s borrowings.