India’s economy grew at a four-quarter high of 13.5% in the April-June period from a year ago, boosted by a strong recovery in construction and contact-intensive services as well as a favourable base effect that magnified the growth.
The government has begun a reassessment of the country’s future oil demand and refining capacity requirements as domestic consumption soars, planned refineries are delayed, and predictions of a quick end to the oil age falter,according to officials.
India's core sector growth slowed to a six-month low of 4.5% in July, pulled down by crude oil, natural gas, cement, and electricity. The core sector had grown 13.2% in June and 9.9 % in the year-ago period, data released by the commerce and industry ministry showed.
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