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Core sector grows 11.6% in August on low base effect

NEW DELHI: The eight core sectors grew for the sixth consecutive month in August led by robust expansion in cement, electricity, coal and natural gas segments, data showed on Thursday.
The key infrastructure sector spanning coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity grew an annual 11.6% in August, higher than the 9.9% in July. The sector had contracted by 6.9% in August last year. The expansion was also helped by a low base of last year. Growth for the April-August period was at 19.3%.
The eight core sectors account for 40.3% of the Index of Industrial Production and the August numbers augur well for the data of the factory output. Several key indicators have pointed to a sharp overall economic recovery as curbs were lifted across states. Economists forecast the economy to grow by double digits at around 10% in current fiscal.

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