Encouraging GDP numbers, but mining and quarrying segment disappoints
Sector contracted in FY23 compared to FY19 and marginally grew over pre-Covid FY19
The gross value added (GVA) in the segment rose 4.6 per cent in 2022-23 year-on-year (YoY), giving an impression of reasonable growth. However, it contracted 0.6 per cent in 2022-23 over the value in 2018-19.
But since mining and quarrying GVA fell in the pre-Covid 2019-20 YoY, there was a growth of 2.4 per cent in 2022-23 over 2019-20.
The economy has recovered handsomely from the pre-Covid periods, mining and quarrying is taking time to pick up even after four years.
The economy has recovered handsomely from the pre-Covid periods, mining and quarrying is taking time to pick up even after four years.
The gross value added (GVA) in the segment rose 4.6 per cent in 2022-23 year-on-year (YoY), giving an impression of reasonable growth. However, it contracted 0.6 per cent in 2022-23 over the value in 2018-19.
But since mining and quarrying GVA fell in the pre-Covid 2019-20 YoY, there was a growth of 2.4 per cent in 2022-23 over 2019-20.
The economy has recovered handsomely from the pre-Covid periods, mining and quarrying is taking time to pick up even after four years.
The economy has recovered handsomely from the pre-Covid periods, mining and quarrying is taking time to pick up even after four years.
The gross value added (GVA) in the segment rose 4.6 per cent in 2022-23 year-on-year (YoY), giving an impression of reasonable growth. However, it contracted 0.6 per cent in 2022-23 over the value in 2018-19.
But since mining and quarrying GVA fell in the pre-Covid 2019-20 YoY, there was a growth of 2.4 per cent in 2022-23 over 2019-20.
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Topics :mining sectorIndia GDP
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First Published: Jun 08 2023 | 4:46 PM IST
