Core sectors grow 12.1% in Oct on festive-boost

Thanks to festive-season boost, the growth rate of eight-core sector industries rose to 12.1% in October from 9.2% in September, mainly due to sharp expansions recorded in production of electricity, steel, and coal during the month. These three industries constitute 48% of the overall core sector industries.

The coal sector’s output jumped 18.4% year-on-year in October, and steel’s rose 11%. Electricity sector’s production surged 20.3% during the month.

The October print was also aided by the statistical effect of a low base. In October 2022, the core sector had grown only 0.7% year-on-year.