The infrastructure sector showed a growth of 4 per cent in December, down from 5.1 per cent in the same month last year, according to official data released on Friday. On a monthly basis, the growth was lower than the 4.4 per cent growth in November 2024. The production of natural gas recorded a decline, while growth in coal, refinery products, fertilisers and steel moderated.
Coal production grew 5.3 per cent, down from 10.8 per cent a year ago, refinery product growth eased to 2.8 per cent from 4.1 per cent, fertiliser production rose 1.7 per cent compared with 5.9 per cent and steel growth slowed to 5.1 per cent from 8.3 per cent in December 2023.
However, cement and electricity output saw an uptick, increasing by 4 per cent and 5.1 per cent, respectively.
Fiscal deficit
Fiscal deficit reached 56.7 per cent of its annual target by December 2024, with the deficit amounting to ₹9.14 lakh crore in the first nine months of the fiscal year, according to data from the Controller General of Accounts (CGA). This compares with 55 per cent of the target for the same period in 2023-24.
The government’s tax revenue stood at ₹18.43 lakh crore, or 71.3 per cent of the budget estimates (BE) for 2024-25, down from 74.2 per cent last year. Total government expenditure was ₹32.32 lakh crore, 67 per cent of BE compared with 67.8 per cent at the same point last year.