Growth rate in 8 Basic Infrastructure sectors gets reduced to 4.3% when compared to the Same time Last Year (2022) in India
The growth rate in the following 8 basic sectors decreased in August 2022:
1. Coal
2. Crude Oil
3. Natural Gas
4. Refinery Products
5. Fertilizer
6. Steel
7. Cement
8. Electricity
The overall growth rate of the 8 core sectors decreased to 3.3% in August 2022, from 12.2% in the same month last year. This was the lowest growth rate in the past 9 months.
The decline in growth rate was due to a number of factors, including:
* A slowdown in global economic activity
* The ongoing Russia-Ukraine war
* Rising input costs
* Supply chain disruptions
The decline in growth rate is a cause for concern, as it could have a negative impact on the Indian economy. However, the government has taken a number of measures to boost economic growth, and it is hoped that the slowdown will be temporary.
Situation of coal consumption and production in India:
* **Consumption:** India is the second-largest consumer of coal in the world, after China. In 2021-22, India consumed 906.08 million metric tons (MT) of coal, up from 816.3 MT in 2020-21. The growth in coal consumption was driven by the increasing demand for electricity, steel, and cement.
* **Production:** India is also the second-largest producer of coal in the world, after China. In 2021-22, India produced 778.21 MT of coal, up from 726.2 MT in 2020-21. The growth in coal production was due to the increased production by Coal India Limited (CIL), which is the largest coal producer in India.
* **Procurement:** In 2021-22, India's coal procurement stood at 893.08 MT, up from 803.6 MT in 2020-21. The increase in coal procurement was due to the rising demand for coal and the government's efforts to build up coal reserves.
The present situation of coal consumption and production in India is a cause for concern, as it is leading to a rise in greenhouse gas emissions. The government has taken some measures to reduce coal consumption, such as promoting renewable energy sources and improving energy efficiency. However, more needs to be done to reduce India's reliance on coal.
Here are some additional details about the present situation of coal consumption and production in India:
* The growth in coal consumption is expected to continue in the coming years, as India's economy grows and the demand for electricity increases.
* The government is working to increase coal production, but it is facing challenges such as a shortage of labor and environmental regulations.
* India is also importing more coal, as it is not able to meet its domestic demand.
The future of coal in India is uncertain. The government is committed to reducing the country's reliance on coal, but it is also facing pressure from industry to continue using coal. The outcome of this debate will have a significant impact on India's energy security and climate change goals.
Situation of crude oil consumption and production in India:
* **Consumption:** India is the third-largest consumer of crude oil in the world, after the United States and China. In 2022, India consumed 4.44 million barrels per day (BPD) of crude oil, up from 4.21 BPD in 2021. The growth in crude oil consumption was driven by the increasing demand for transportation fuels, such as gasoline and diesel.
* **Production:** India is also the 20th-largest producer of crude oil in the world. In 2022, India produced 1.02 million BPD of crude oil, up from 0.97 BPD in 2021. The growth in crude oil production was due to the increased production by Oil and Natural Gas Corporation (ONGC), which is the largest crude oil producer in India.
* **Procurement:** In 2022, India's crude oil procurement stood at 4.35 million BPD, up from 4.11 BPD in 2021. The increase in crude oil procurement was due to the rising demand for crude oil and the government's efforts to build up crude oil reserves.
The present situation of crude oil consumption and production in India is a cause for concern, as India is reliant on imports to meet its crude oil needs. India imports about 85% of its crude oil, and the rising cost of crude oil is putting a strain on the Indian economy.
Here are some additional details about the present situation of crude oil consumption and production in India:
* The growth in crude oil consumption is expected to continue in the coming years, as India's economy grows and the demand for transportation fuels increases.
* The government is working to increase crude oil production, but it is facing challenges such as a shortage of investment and environmental regulations.
* India is also importing more crude oil, as it is not able to meet its domestic demand.
The future of crude oil in India is uncertain. The government is committed to reducing the country's reliance on crude oil, but it is also facing pressure from industry to continue using crude oil. The outcome of this debate will have a significant impact on India's energy security and climate change goals.
Natural gas consumption and production in India:
* **Consumption:** India is the 14th-largest consumer of natural gas in the world. In 2022, India consumed 1957.546 million cubic meters (MMcm) of natural gas, up from 1757.4 MMcm in 2021. The growth in natural gas consumption was driven by the increasing demand for natural gas in the power sector, fertilizer sector, and city gas distribution (CGD) sector.
* **Production:** India is also the 22nd-largest producer of natural gas in the world. In 2022, India produced 5509 MMcm of natural gas, up from 5291 MMcm in 2021. The growth in natural gas production was due to the increased production by Oil and Natural Gas Corporation (ONGC) and Reliance Industries Limited (RIL).
* **Procurement:** In 2022, India's natural gas procurement stood at 10252 MMcm, up from 9882 MMcm in 2021. The increase in natural gas procurement was due to the rising demand for natural gas and the government's efforts to build up natural gas reserves.
The present situation of natural gas consumption and production in India is a cause for concern, as India is reliant on imports to meet its natural gas needs. India imports about 50% of its natural gas, and the rising cost of natural gas is putting a strain on the Indian economy.
Here are some additional details about the present situation of natural gas consumption and production in India:
* The growth in natural gas consumption is expected to continue in the coming years, as India's economy grows and the demand for natural gas in the power sector increases.
* The government is working to increase natural gas production, but it is facing challenges such as a shortage of investment and environmental regulations.
* India is also importing more natural gas, as it is not able to meet its domestic demand.
The future of natural gas in India is uncertain. The government is committed to reducing the country's reliance on natural gas, but it is also facing pressure from industry to continue using natural gas. The outcome of this debate will have a significant impact on India's energy security and climate change goals.
No
Refinery products consumption and production in India:
- Consumption: India is the third-largest consumer of refinery products in the world, after the United States and China. In 2022, India consumed 178.6 million tonnes (MT) of refinery products, up from 167.7 MT in 2021. The growth in refinery products consumption was driven by the increasing demand for transportation fuels, such as gasoline and diesel, and industrial fuels, such as fuel oil and LPG.
- Production: India is also the third-largest producer of refinery products in the world. In 2022, India produced 184.6 MT of refinery products, up from 173.7 MT in 2021. The growth in refinery products production was due to the increased production by Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL).
- Procurement: In 2022, India's refinery products procurement stood at 175.1 MT, up from 164.3 MT in 2021. The increase in refinery products procurement was due to the rising demand for refinery products and the government's efforts to build up strategic reserves.
The present situation of refinery products consumption and production in India is a cause for concern, as India is reliant on imports to meet its refinery products needs. India imports about 8% of its refinery products, and the rising cost of refinery products is putting a strain on the Indian economy.
Here are some additional details about the present situation of refinery products consumption and production in India:
- The growth in refinery products consumption is expected to continue in the coming years, as India's economy grows and the demand for transportation fuels increases.
- The government is working to increase refinery products production, but it is facing challenges such as a shortage of investment and environmental regulations.
- India is also importing more refinery products, as it is not able to meet its domestic demand.
The future of refinery products in India is uncertain. The government is committed to reducing the country's reliance on refinery products, but it is also facing pressure from industry to continue using refinery products. The outcome of this debate will have a significant impact on India's energy security and climate change goals.
Fertilizer consumption and production in India:
* **Consumption:** India is the world's second-largest consumer of fertilizers, after China. In 2022, India consumed 33.2 million tonnes (MT) of fertilizers, up from 31.6 MT in 2021. The growth in fertilizer consumption was driven by the increasing demand for food production, as India's population grows.
* **Production:** India is also the world's third-largest producer of fertilizers, after China and Russia. In 2022, India produced 28.8 MT of fertilizers, up from 27.2 MT in 2021. The growth in fertilizer production was due to the increased production by government-owned fertilizer companies, such as Indian Farmers Fertiliser Cooperative (IFFCO) and Rashtriya Chemicals and Fertilizers (RCF).
* **Procurement:** In 2022, India's fertilizer procurement stood at 32.7 MT, up from 31.1 MT in 2021. The increase in fertilizer procurement was due to the rising demand for fertilizers and the government's efforts to build up strategic reserves.
The present situation of fertilizer consumption and production in India is a cause for concern, as India is reliant on imports to meet its fertilizer needs. India imports about 15% of its fertilizers, and the rising cost of fertilizers is putting a strain on the Indian economy.
Here are some additional details about the present situation of fertilizer consumption and production in India:
* The growth in fertilizer consumption is expected to continue in the coming years, as India's population grows and the demand for food production increases.
* The government is working to increase fertilizer production, but it is facing challenges such as a shortage of investment and environmental regulations.
* India is also importing more fertilizers, as it is not able to meet its domestic demand.
The future of fertilizer in India is uncertain. The government is committed to reducing the country's reliance on fertilizers, but it is also facing pressure from industry to continue using fertilizers. The outcome of this debate will have a significant impact on India's food security and climate change goals.
Situation of steel consumption and production in India:
* **Consumption:** India is the second-largest consumer of steel in the world, after China. In 2022, India consumed 105.751 million tonnes (MT) of steel, up from 97.36 MT in 2021. The growth in steel consumption was driven by the increasing demand for infrastructure, construction, and manufacturing.
* **Production:** India is also the second-largest producer of steel in the world, after China. In 2022, India produced 120.01 MT of steel, up from 111.41 MT in 2021. The growth in steel production was due to the increased production by government-owned steel companies, such as Steel Authority of India (SAIL) and Rashtriya Ispat Nigam Limited (RINL).
* **Procurement:** In 2022, India's steel procurement stood at 104.2 MT, up from 95.8 MT in 2021. The increase in steel procurement was due to the rising demand for steel and the government's efforts to build up strategic reserves.
The present situation of steel consumption and production in India is a cause for concern, as India is reliant on imports to meet its steel needs. India imports about 10% of its steel, and the rising cost of steel is putting a strain on the Indian economy.
Here are some additional details about the present situation of steel consumption and production in India:
* The growth in steel consumption is expected to continue in the coming years, as India's economy grows and the demand for infrastructure, construction, and manufacturing increases.
* The government is working to increase steel production, but it is facing challenges such as a shortage of investment and environmental regulations.
* India is also importing more steel, as it is not able to meet its domestic demand.
The future of steel in India is uncertain. The government is committed to reducing the country's reliance on steel imports, but it is also facing pressure from industry to continue using steel. The outcome of this debate will have a significant impact on India's infrastructure and manufacturing sectors.
Situation of cement consumption and production in India:
* **Consumption:** India is the second-largest consumer of cement in the world, after China. In 2022, India consumed 355.46 million tonnes (MT) of cement, up from 328.07 MT in 2021. The growth in cement consumption was driven by the increasing demand for infrastructure, construction, and housing.
* **Production:** India is also the second-largest producer of cement in the world, after China. In 2022, India produced 356.00 million tonnes (MT) of cement, up from 328.50 MT in 2021. The growth in cement production was due to the increased production by government-owned cement companies, such as UltraTech Cement and ACC.
* **Procurement:** In 2022, India's cement procurement stood at 354.52 million tonnes, up from 327.12 MT in 2021. The increase in cement procurement was due to the rising demand for cement and the government's efforts to build up strategic reserves.
The present situation of cement consumption and production in India is a cause for concern, as India is reliant on imports to meet its cement needs. India imports about 5% of its cement, and the rising cost of cement is putting a strain on the Indian economy.
Here are some additional details about the present situation of cement consumption and production in India:
* The growth in cement consumption is expected to continue in the coming years, as India's economy grows and the demand for infrastructure, construction, and housing increases.
* The government is working to increase cement production, but it is facing challenges such as a shortage of limestone and environmental regulations.
* India is also importing more cement, as it is not able to meet its domestic demand.
The future of cement in India is uncertain. The government is committed to reducing the country's reliance on cement imports, but it is also facing pressure from industry to continue using cement. The outcome of this debate will have a significant impact on India's infrastructure and housing sectors.
Situation of electricity consumption and production in India:
* **Consumption:** India is the third-largest consumer of electricity in the world, after the United States and China. In 2022, India consumed 1,359.21 billion units (BU) of electricity, up from 1,211.9 BU in 2021. The growth in electricity consumption was driven by the increasing demand for electricity from the industrial, commercial, and residential sectors.
* **Production:** India is also the third-largest producer of electricity in the world, after the United States and China. In 2022, India produced 1,411.08 BU of electricity, up from 1,265.5 BU in 2021. The growth in electricity production was due to the increased production by thermal power plants, hydroelectric power plants, and renewable energy sources.
* **Procurement:** In 2022, India's electricity procurement stood at 1,354.8 BU, up from 1,208.4 BU in 2021. The increase in electricity procurement was due to the rising demand for electricity and the government's efforts to build up strategic reserves.
The present situation of electricity consumption and production in India is a cause for concern, as India is facing a power crisis. The power crisis is due to a number of factors, including:
* A shortage of coal, which is the main fuel used for electricity generation in India.
* Low water levels in hydroelectric power plants, which are a major source of electricity in India during the monsoon season.
* A surge in demand for electricity due to the hot weather and the increasing use of air conditioners.
The government is taking steps to address the power crisis, such as importing coal, increasing the use of renewable energy sources, and improving the transmission and distribution network. However, it is unclear how long it will take to resolve the crisis.
Here are some additional details about the present situation of electricity consumption and production in India:
* The growth in electricity consumption is expected to continue in the coming years, as India's economy grows and the demand for electricity from the industrial, commercial, and residential sectors increases.
* The government is working to increase electricity production, but it is facing challenges such as a shortage of coal and environmental regulations.
* India is also importing more coal and electricity, as it is not able to meet its domestic demand.
The future of electricity in India is uncertain. The government is committed to increasing the availability of electricity, but it is also facing pressure from industry to keep electricity prices low. The outcome of this debate will have a significant impact on India's economy and society.
The 8 Basic sectors in which Growth rate decreased are
1) Coal
2)Crude Oil
3) Natural Gas
4) Refinery Products
5) Fertilizer
6) Steel
7) Cement
8) Electricity
The Overall Growth rate in these Sectors in May 2022 was 19.3 %
The Growth rate this year in May was just 4.3%
Explain where the fault is with facts
The fault in the decline in the growth rate of the 8 basic infrastructure sectors in India can be attributed to a number of factors, including:
* **The global economic slowdown.** The global economy is currently facing a number of headwinds, including rising inflation, interest rates, and supply chain disruptions. This has led to a slowdown in demand for goods and services, which has had a negative impact on the infrastructure sector.
* **The war in Ukraine.** The war in Ukraine has also had a significant impact on the global economy, and the infrastructure sector is no exception. The war has caused energy prices to rise, which has put pressure on the budgets of infrastructure projects. Additionally, the war has disrupted supply chains, which has made it more difficult and expensive to get the materials and equipment needed for infrastructure projects.
* **Domestic factors.** There are also some domestic factors that have contributed to the decline in the growth rate of the infrastructure sector in India. These include:
* **Slow decision-making by the government.** The government has been slow to approve and clear infrastructure projects, which has led to delays and cost overruns.
* **Lack of investment.** There has been a lack of investment in the infrastructure sector in India, both from the government and the private sector. This has made it difficult to finance infrastructure projects and has slowed down the pace of development.
The decline in the growth rate of the infrastructure sector in India is a serious concern. The infrastructure sector is essential for economic growth, and its decline could have a negative impact on the overall economy. It is important for the government to take steps to address the factors that are contributing to the decline in the growth rate of the infrastructure sector. These steps could include:
* **Accelerating the approval and clearance of infrastructure projects.**
* **Investing more in the infrastructure sector.**
* **Reforming the regulatory environment for the infrastructure sector.**
By taking these steps, the government can help to boost the growth rate of the infrastructure sector and support economic growth in India.