Infrastructure sector growth reaches 8% in July 2023
OIL & GAS

Infrastructure sector growth reaches 8% in July 2023

The growth of eight pivotal infrastructure sectors surged to 8% in July 2023, marking a significant rise from the 4.8% recorded in the corresponding month of the previous year. This expansion was primarily attributed to increased production levels in coal, crude oil, and natural gas, as per official data released on Thursday. Additionally, the production of steel, cement, and electricity also witnessed growth during July.

However, it's worth noting that the growth rate for the core sector in July experienced a slight decline compared to the preceding month, dropping to 8% from 8.3%. The Commerce and Industry Ministry's data unveiled these trends.

Although the growth trajectory for the eight sectors in April-July 2023-24 stood at 6.4%, it marked a decrease from the 11.5% recorded during the same period in the previous year.
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The growth of eight pivotal infrastructure sectors surged to 8% in July 2023, marking a significant rise from the 4.8% recorded in the corresponding month of the previous year. This expansion was primarily attributed to increased production levels in coal, crude oil, and natural gas, as per official data released on Thursday. Additionally, the production of steel, cement, and electricity also witnessed growth during July.However, it's worth noting that the growth rate for the core sector in July experienced a slight decline compared to the preceding month, dropping to 8% from 8.3%. The Commerce and Industry Ministry's data unveiled these trends.Although the growth trajectory for the eight sectors in April-July 2023-24 stood at 6.4%, it marked a decrease from the 11.5% recorded during the same period in the previous year.

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