A mixed bag of macro-economic data today. Core sector growth is at a 10-month low. 8 core sectors crawl in November with a growth rate of just over 3 percent, the slowest in 10 months. However, robust tax collections are keeping the fiscal deficit at a record low.
The core sector for November is alarmingly bad. It is 3.1 percent versus an 8.1 percent growth in October, it was dragged down by cement, steel power, crude oil. It was just coal and natural gas, which did reasonably well.
The fiscal deficit, on the other hand, came record low primarily because tax collection was excellent.
Watch the accompanying video of CNBC-TV18’s Latha Venkatesh for more details.