A sharp slowdown in construction activities have pulled down the economic growth of India to below 8 per cent in the first quarter of the current fiscal.
And lesser construction activities have brought down the consumption
growth of finished steel to as low as 1.5%.
The country's real gross domestic product (GDP) grew by 7.7
per cent during April-June against a year-on-year increase of 8.8 per cent in
the same quarter of 2010-11.
The real laggard was construction that returned a measly 1.2
per cent growth during the latest ended quarter, compared with 7.7 per cent in
April-June 2010.
“The key indicators of construction sector, namely,
production of cement declined by 0.9 per cent and consumption of finished steel
registered growth rate of 1.5 per cent, during Q1 of 2011-12,†the Central
Statistics Office said in its statement issued here on Tuesday.
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