More jitters: 8 core sectors’ Dec growth slows to 2.1%
1 Feb 2014 5:57 AM IST
The eight core sector industries — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, electricity — grew by 7.5 per cent in December 2012.
According to the data released by the government on Friday, the output of eight infrastructure industries in April- December 2013 grew by a mere 2.5 per cent against 6.8 per cent in the same period of the previous fiscal.
The eight core industries have a combined weight of about 38 per cent in the Index for Industrial Production (IIP).The Decem ber IIP numbers would be released in the second week of January. Coal output fell 0.6 per cent in December year-on- year. Petroleum refinery production shrank by 1.7 per cent.
Steel output growth slowed down to 3.1 per cent in the month under review. Cement production also decelerated by 1.1 per cent.
Among those which put up a good performance, crude oil which registered a growth of 1.6 per cent and electricity generation grew at 6.7 per cent. Natural gas output was in negative zone at 9.9 per cent in December as against (-) 14.9 per cent in December 2012.
Fiscal deficit for first 9 months crosses 95% of annual target
New Delhi: Country's fiscal deficit touched Rs 5,16,390 crore or 95.2 per cent of the annual target during April-December, the Controller General of Accounts said on Friday.
The government had fixed the fiscal deficit target—the gap between expenditure and revenue — at Rs 5,42,499 crore or 4.8 per cent of the GDP in Budget 2013-14.
The fiscal deficit in the same period last year was 78.8 per cent of the budget estimate. The government had repeatedly asserted that the fiscal deficit would be restricted to 4.8 per cent of GDP, down from 4.9 per cent in 2012-13. Finance Minister P Chidambaram had on several occasions said the fiscal deficit target is a red line that would not be breached.
Economic Affairs Secretary Arvind Mayaram had said on Thursday that the economy had emerged out of the trough and the government will rein in fiscal deficit at 4.8 per cent of GDP in the current fiscal.
According to the CGA, revenue receipts totalled Rs 6,33,933 crore during April-December, or 60 per cent of the budget estimate. The government is aiming at revenues of Rs 10,56,331 crore in the year ending March 2014.
The government's expenditure — plan and non-plan — was Rs 11,63,791 crore during April-December or 69.9 per cent of the budgeted Rs 16,65,297 crore for this financial year.
The revenue deficit at Rs 3,71,242 crore at the end of December was 97.7 per cent of total
budgeted for the fiscal.
The government expects the year-end revenue deficit of Rs 3,79,838 crore.
CSO revises FY13 growth down from 5% to 4.5%
New Delhi: The Government on Friday said that the economy may have expanded by 4.5 per cent in 2012-13, compared with the earlier estimate of 5 per cent, on account of subdued performance in agriculture, mining and manufacturing.
According to the data released by the government on Friday, the output of eight infrastructure industries in April- December 2013 grew by a mere 2.5 per cent against 6.8 per cent in the same period of the previous fiscal.
The eight core industries have a combined weight of about 38 per cent in the Index for Industrial Production (IIP).The Decem ber IIP numbers would be released in the second week of January. Coal output fell 0.6 per cent in December year-on- year. Petroleum refinery production shrank by 1.7 per cent.
Steel output growth slowed down to 3.1 per cent in the month under review. Cement production also decelerated by 1.1 per cent.
Among those which put up a good performance, crude oil which registered a growth of 1.6 per cent and electricity generation grew at 6.7 per cent. Natural gas output was in negative zone at 9.9 per cent in December as against (-) 14.9 per cent in December 2012.
Fiscal deficit for first 9 months crosses 95% of annual target
New Delhi: Country's fiscal deficit touched Rs 5,16,390 crore or 95.2 per cent of the annual target during April-December, the Controller General of Accounts said on Friday.
The government had fixed the fiscal deficit target—the gap between expenditure and revenue — at Rs 5,42,499 crore or 4.8 per cent of the GDP in Budget 2013-14.
The fiscal deficit in the same period last year was 78.8 per cent of the budget estimate. The government had repeatedly asserted that the fiscal deficit would be restricted to 4.8 per cent of GDP, down from 4.9 per cent in 2012-13. Finance Minister P Chidambaram had on several occasions said the fiscal deficit target is a red line that would not be breached.
Economic Affairs Secretary Arvind Mayaram had said on Thursday that the economy had emerged out of the trough and the government will rein in fiscal deficit at 4.8 per cent of GDP in the current fiscal.
According to the CGA, revenue receipts totalled Rs 6,33,933 crore during April-December, or 60 per cent of the budget estimate. The government is aiming at revenues of Rs 10,56,331 crore in the year ending March 2014.
The government's expenditure — plan and non-plan — was Rs 11,63,791 crore during April-December or 69.9 per cent of the budgeted Rs 16,65,297 crore for this financial year.
The revenue deficit at Rs 3,71,242 crore at the end of December was 97.7 per cent of total
budgeted for the fiscal.
The government expects the year-end revenue deficit of Rs 3,79,838 crore.
CSO revises FY13 growth down from 5% to 4.5%
New Delhi: The Government on Friday said that the economy may have expanded by 4.5 per cent in 2012-13, compared with the earlier estimate of 5 per cent, on account of subdued performance in agriculture, mining and manufacturing.
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