India Jan infrastructure growth slowest in 5 months at 3.4% | business-news | Hindustan Times
Today in New Delhi, India
Jun 23, 2017-Friday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

India Jan infrastructure growth slowest in 5 months at 3.4%

India’s infrastructure sector grew at its slowest pace in five months at 3.4% in January as compared with 5.6% in December, mainly due to fall in cement, refinery and fertilizer output, government data showed on Tuesday, raising concerns over the overall industrial recovery.

business Updated: Mar 05, 2017 06:40 IST
Raj Kumar Ray
infrastructure
Labourers work at a flyover construction site in Jammu.(AP File Photo)

India’s infrastructure sector grew at its slowest pace in five months at 3.4% in January as compared with 5.6% in December, mainly due to fall in cement, refinery and fertilizer output, government data showed on Tuesday, raising concerns over the overall industrial recovery.

During April-January, the eight core industries grew 4.8% as compared with 2.9% a year ago.

In January, steel output was up 11.4%, natural gas 11.9%, coal 4.8% and crude oil 1.3%.

However, cement output was down 13.3% while petroleum refinery product was down 1.5% and fertilizer 1.6%.

The slower growth in core industries, which contribute 38% to the index of industrial production, remains a concern for the broad-based recovery of the economy hit by the demonetization drive.

The IIP had contracted by 0.4% in December while the economy is projected to grow close to 7% in 2016-17 as compared with 7.9% in the previous year.