Core Sector Production Decreased In July, And Damage To Eight Infrastructure Sectors

The core sector output declined to 4.5 percent in July. According to government data released on Wednesday, output in eight core infrastructure sectors declined to 4.5 percent in July, the lowest in six months. Core sector output was 9.9 percent in the same period a year ago.

The eight infrastructure sectors include coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity. Their growth rate was 11.5 percent in April-July in the current financial year, which was 21.4 percent a year ago.

where was the decrease

The output of these infrastructure sectors grew by 13.2 percent in June, 19.3 percent in May, 9.5 percent in April, 4.8 percent in March, 5.9 percent in February, and 4 percent in January. Crude oil and natural gas production declined by 3.8 percent and 0.3 percent, respectively, during this period.

India fastest growing country in the world

The country's GDP grew at the rate of 13.5 percent in the June quarter. However, in the same quarter of the last financial year, the country's GDP growth rate was 20.1 percent. However, the growth of 13.5 percent is the second highest growth of the Indian economy. Earlier, in the first quarter of the last financial year, GDP growth was 20.1%. In this way, India remains the fastest-growing economy in the world. Economic activities have returned to normalcy in the country. The activities, especially in the service sector, have grown very rapidly. These include entertainment, restaurants, sports, banking, etc. Let us tell you that the lockdown was imposed in March 2020 after the corona epidemic started. Due to this, economic activities came to a complete halt.