Growth rate of eight basic industries of the country slows down to 8.1 percent in September

New Delhi, 31 October (Hindustan Reporter). The growth rate of eight major basic industries of the country has slowed down to 8.1 percent in the month of September. In the month of August it was 12.5 percent. However, in the same period last year it was 8.3 percent.

The Ministry of Commerce and Industry said in the data released on Tuesday that the growth rate of eight major basic industries in September was 8.1 percent. In the same period last year it was 8.3 percent. According to the data, crude oil production declined by 0.4 percent in September, whereas it had declined by 2.3 percent in the same month last year.

According to the ministry, the production of coal sector increased by 16.1 percent in September, whereas it was 12.1 percent in the same month last year. Production of natural gas and refinery products increased by 6.5 percent and 5.5 percent, respectively. Similarly, the production of fertilizers has increased by 4.2 percent. The production of steel and cement sectors has been 9.6 percent and 4.7 percent respectively.

According to the data, power sector production declined to 9.3 percent in the month of September, whereas it was 15.3 percent in August 2023. According to the ministry, the growth rate of production of eight major sectors declined to 7.8 percent in the first half (April-September) of the current financial year 2023-24, which was 9.8 percent in the same period last year.

The eight major basic industries of the country include coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity. The share of eight basic industries in the weight of goods included in its Index of Industrial Production (IIP) is 40.27 percent.

Hindusthan News/Prajesh/Suneet

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