Growth in eight core infrastructure sectors slowed to 4.3 per cent in November, down from 7.9 per cent in the same month a year earlier, government data showed on Tuesday. However, output growth rose from 3.7 per cent recorded in October, signalling a partial recovery.

The production of crude oil and natural gas contracted in November, while coal, refinery products, fertiliser, steel, and electricity posted slower growth compared with a year earlier.

Growth in coal production fell to 7.5 per cent from 10.9 per cent a year ago; refinery products to 2.9 per cent from 12.4 per cent and fertiliser to 2 per cent from 3.3 per cent.

Steel output grew 4.8 per cent against 9.7 per cent a year ago, while electricity production grew 3.8 per cent against 5.8 per cent.

Cement output was a bright spot, rising 13 per cent, a sharp improvement from its 3.1 per cent growth in October.

The eight core sectors contribute 40.27 per cent to the Index of Industrial Production (IIP), a key measure of overall industrial activity in India.

Fiscal deficit

Fiscal deficit for April-November 2024 stood at ₹8.47 trillion, or 52.5 per cent of the full-year target of ₹16.13 trillion, government data showed. This compares with ₹9.07 trillion a year ago.

Total expenditure for the period rose to ₹27.41 trillion, up from ₹26.52 trillion year-on-year, while receipts climbed to ₹18.94 trillion from ₹17.46 trillion.

Capital expenditure, crucial for infrastructure development, fell to ₹5.14 trillion from ₹5.86 trillion.