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Core Sector Growth in December 2022: There is big news related to the core sector of the country. Excellent growth rate is coming out in these 8 core sectors. According to the data released by the Union Ministry of Commerce, the production of 8 infrastructure sector industries has increased at the rate of 7.4 percent in December 2022. Which has been the highest in the last 3 months. This figure was 4.1 percent in the same period last year. Know what the figures have been..
Increased production of these 8 major industries
Official figures released from the Ministry of Commerce have been released on Tuesday. According to statistics, there has been a great performance in the sectors related to Coal, Fertilizer, Steel and Power. However, in December 2022, the production of crude oil has decreased by 1.2 percent on an annual basis. Whereas earlier in November 2022, the production of 8 major industries had increased by 5.7 percent.
12.6 percent in the last year
The 8 basic industries include coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity. Their growth rate was eight percent during April-December in the current financial year. This figure was 12.6 percent in the same period last year.
Know how much coal production was
On the other hand, the production of coal in the country has increased by 11.5 percent in December, 2022 on an annual basis. While there has been an increase of 7.3 percent in fertilizers, 9.2 percent in steel and 10 percent in electricity. The Index of Industrial Production (IIP) also includes 40.27 per cent share of eight infrastructure sectors.
GDP increased in the first quarter
The Indian economy has grown at the rate of 13.5 percent between April and June in the first quarter of the financial year 2022-23. But this is less than the RBI’s estimate of 16.2 per cent. The same was 20.1 percent GDP in the first quarter of the year 2021-22. In the same year, the GDP growth rate has increased due to low base and increase in domestic demand.
The inputs in this news have been taken from the language…
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