The core sector growth in August declined by 0.5 percent, at the bottom of three-and-a-half years

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The economic system facing the recession has suffered another setback. According to data released by the central government, growth in core sector has declined to 8.9 percent in August. Which shows a three-and-a-half year low. The measures being taken by the government to bring the economic system out of the recession have been seen to have no special effect.

The eight sectors in the core sector include coal, crude oil, natural gas, refinery products, cement, fertilizers, electricity and fertilizers. In August last year, the core sector's growth was 8.5 percent.

Prior to November 1, the core sector's growth was minus 8.2 percent. According to data released by the Ministry of Commerce and Industry, the growth rates of coal, crude oil, natural gas, cement and electricity are minus 8 percent, minus 8 percent, minus 8 percent, minus 8 percent and minus 8, respectively. It's been 5%. However, the growth of the fertilizer and steel sectors saw a growth rate of 5.5 per cent and 5 per cent.

On the other hand, the country's financial surplus has reached Rs 1.8 lakh crore at the end of August. It is worth mentioning that for the financial year 1-3, the fiscal deficit has been set at Rs 1.5 lakh crore. Its 8.5 per cent has come down to the end of August.

However, at the end of August last year, the monetary deficit in the Budget stood at 8.5 per cent. In other words, the government has set a target of keeping the fiscal deficit at 5.5% of GDP.