Core growth drops to 20-month low of 4 per cent

The Index of Eight Core Industries -coal, crude oil, steel, cement, electricity, fertilisers, refinery products and natural gas - has a 40% weight in the Index of Industrial Production (IIP). The index was up 8.4% in June 2023. Sequentially, the output contracted 3.1% in June. "With the dip in the core sector growth, we expect the IIP to post a rise of 3.5-5.0% in June 2024," said Aditi Nayar, Chief Economist, ICRA.