Aug core sector output at 3.2 %; Apr- Aug reaches 76.4 % of FY17 target

India’s core sector output for the month of August came in at 3.2 per cent. Core sector output primarily consists of eight core sectors of the economy which together contributes more than 38 per cent of the country’s industrial output.

Core sector output was boosted by an increase in steel and cement production signifying a pickup in their respective demand scenario given the government's push for infrastructure in the country. Steel sector posted an exemplary performance with a 17 per cent growth in the month of August. Cement also grew by 3.1 per cent for the month which was slightly better than the previous month of July.

Coal and crude output were among the worst performers for the month in terms of their production number. Coal output dropped by 9.2 per cent as against a growth of 5.1 per cent in the preceding month, however the fall in crude was not much as it fell by 3.9 per cent compared to 1.8 per cent in the previous month of July.

Fertilizers also saw a good growth trajectory by rising 5.7 per cent.

In another data piece, government's fiscal data for the first five months came in at 76.4 per cent of the target for FY17. The fiscal deficit has been rising due to low revenue receipt of the government in the past months.