Encouraging GDP numbers, but mining and quarrying segment disappoints

Sector contracted in FY23 compared to FY19 and marginally grew over pre-Covid FY19

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 first three quarters of 2022-23 saw a decline in mining and quarrying GVA over 2018-19, with the second