New Delhi: India’s infrastructure output expanded 8.2% year-on-year in June, its fastest pace in five months, as the sector was buoyant, government data showed on Monday.
With the exception of the oil sector that fell 0.6% in June, the rest of the seven sectors posted year-on-year output growth, according to the data.
“Growth has been broad-based thus reflecting buoyancy in the infrastructure sector this year,” said Madan Sabnavis, economist at Bank of Baroda.
The Indian government’s capital spending increased 59% in the April-June period, according to separate government data.
New Delhi’s infrastructure spending has been a key support to the Indian economy, which is one of the fastest growing major economies in the world.
In June, the steel sector grew 22%, coal grew nearly 10% and cement sector grew 9.4%.
In the first quarter of the financial year that started on April 1, infrastructure output rose 5.8% year-on-year, the data showed.
(Reporting by Shivangi Acharya, Editing by Louise Heavens and Bernadette Baum)
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