Core Sector Growth Rate Update: In the first quarter of 2022-23, the DGP figure may have been 13.5 percent, but in the month of July, there has been a decline in the growth rate of 8 major core sectors of the country. According to the data released by the Ministry of Commerce, there has been a decrease in the growth rate of the core sector in the month of July as compared to June 2022. It has come down to 4.5 per cent in July. Whereas in June, the growth rate of the core sector was 13.2 percent.
These eight core sectors include coal, refinery products, electricity, fertilizer, cement steel, crude oil and natural gas. Out of these 8 core sectors, the production of 6 sectors has increased. Production in July has been 11.4 percent as compared to last year. While the production of the electricity sector has increased by 2.2 percent. Production of refinery products and fertilizers has increased by 6.2 per cent over the previous year. Cement production grew by 2.1 per cent and stein production by 5.7 per cent.
The sectors whose production has come down include crude oil and natural gas. Crude oil production decreased by 3.8 percent and natural gas production by 0.3 percent.
At the same time, the Indian economy has grown at the rate of 13.5 percent in the first quarter of the financial year 2022-23 (1st Quarter) between April and June. Whereas in the first quarter of 2021-22, there was 20.1 percent GDP. In fact, in the first quarter of 2021-22, GDP growth rate has increased due to low base and pick-up in domestic demand. This quarter has seen an increase in investment, consumption. In the first quarter of 2022-23, the GDP growth rate has been 13.5 percent but this is the RBI’s estimate of 16.2 percent. is less than.
read this also
GDP data: Indian economy picks up pace, 13.5 percent GDP in the first quarter of 2022-23