The growth of these core sectors – coal, crude oil, natural gas, refined products, fertilizers, steel, cement and power – was 4.6% in April 2023. Fertilizer production recorded negative growth in April. Production growth of coal, steel and cement slowed to 7.5%, 7.1% and 0.6%, respectively, from 9.1%, 16.6% and 12.4%, respectively, in April 2023. Eight core sectors contribute 40.3% to the industrial production index.
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Tata AIG introduces surety bonds for the infrastructure sector
Tata AIG General Insurance launches surety bond insurance to support the Indian government’s infrastructure development initiatives.
Crisil: Bank credit growth slows to 14% in FY25
Crisil reports bank credit growth of 16% in FY2024-25 (excluding HDFC merger) driven by robust economic activity and increased retail demand. Growth in FY2025 could be dampened by a high base effect, revised risk weights and lower GDP growth.
Crisil: Bank loan and deposit growth to slow to 14% and 11%, respectively, in FY2024
According to Crisil Ratings, the growth rate of bank credit is expected to decline from 16% in FY24 to around 14% in FY25 as lower deposits dampen credit growth. Corporate credit is expected to grow at a slower pace at 13%, supported by private sector industrial capital expenditure in FY25.
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