Core sector maintains double-digit growth in June
Steel

Core sector maintains double-digit growth in June

India’s eight infrastructure sectors grew in double digits for the second consecutive month in June, even as sequentially growth faltered.

Data released by the industry department showed the core sector grew 12.7% in June year-on-year; sequentially, it contracted 4.1%.

Aditi Nayar, chief economist at Icra, said there was a fairly broad-based moderation in core sector growth, from 19.3% in May to 12.7% in June, reflecting the normalising base. “The core sector reported 8% growth in June 2022 from the pre-Covid level, with a healthy performance from all the sectors,  except steel and crude oil. In line with the moderation in the YoY performance recorded by most high-frequency indicators, as well as the core sector in June 2022, we expect IIP growth to ease to around 11-13% in that month,” she said.

India’s eight infrastructure sectors grew in double digits for the second consecutive month in June, even as sequentially growth faltered. Data released by the industry department showed the core sector grew 12.7% in June year-on-year; sequentially, it contracted 4.1%. Aditi Nayar, chief economist at Icra, said there was a fairly broad-based moderation in core sector growth, from 19.3% in May to 12.7% in June, reflecting the normalising base. “The core sector reported 8% growth in June 2022 from the pre-Covid level, with a healthy performance from all the sectors,  except steel and crude oil. In line with the moderation in the YoY performance recorded by most high-frequency indicators, as well as the core sector in June 2022, we expect IIP growth to ease to around 11-13% in that month,” she said.

Next Story
Infrastructure Urban

NHAI Defends Use of Mamallapuram Pond for ECR Project Ramp

                                                The National Highways Authority of India (NHAI) has informed the National Green Tribunal (NGT) that it was compelled to use a portion of a pond in Mamallapuram to construct an exit ramp for the East Coast Road (ECR) four-laning project between Mamallapuram and Puducherry. The clarification comes in response to a petition alleging that the construction encroached on the waterbody without valid justification.In its submission..

Next Story
Infrastructure Transport

Tiruvallur Begins Full Audit of Accident-Prone Roads

Tiruvallur, a fast-growing logistics and residential hub on Chennai’s northwestern edge, has begun a comprehensive audit of fatal and non-fatal road accidents across the district.Special task forces made up of transport, police, and revenue officials have started field investigations at high-risk locations such as Red Hills, Poonamallee, and Tiruvallur town.The initiative follows an alarming 188 road crashes, including 49 fatalities, reported in February alone. Tiruvallur Collector M. Prathap has directed officials to analyse five years’ worth of crash data to assess if road design flaws o..

Next Story
Infrastructure Urban

Modi Hands Over 51K Job Letters, Urges Youth to Drive Growth

Prime Minister Narendra Modi on Monday distributed over 51,000 appointment letters to newly recruited youth in various government departments and organisations, addressing them via videoconferencing during the Rozgar Mela.Speaking to the gathering, Modi said today marks the beginning of new responsibilities for the recruits. He urged them to strengthen India’s economy, boost internal security, help build modern infrastructure, and bring meaningful change to people's lives. The sincerity with which they perform their duties, he said, would directly impact India’s journey towards becoming a ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?