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The growth of eight core infrastructure sectors rose by 12.7% in June against 9.4% in the year-ago period, the Ministry of Commerce & Industry said on Friday. The eight core sectors had expanded 18.1% on an annual basis in the previous month.
The production of coal, cement, electricity, refinery products, fertilisers, steel, and natural gas industries increased in June over the corresponding period of last year, the government said in a press release.
Crude oil is the only sector that saw a contraction.
The coal sector grew by 31.1% on a YoY basis while refinery products saw a growth of 15.1%.
The cement and electricity sectors saw a growth of 19.4% and 15.5% each.
Together, these industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
Cumulatively, the growth rate of ICI during April-June 2022-23 was 13.7% as compared to the corresponding period of the previous fiscal year.
Tax collections grew, partly due to higher inflation, helping the government collect more goods and services tax (GST), as well as higher corporate tax receipts on improved economic activity.
All States have enacted their Fiscal Responsibility and Budget Management (FRBM) Act Compliance to the State FRBM Act is monitored by the respective State Legislatures.
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