Growth woes: India's Q1 FY20 GDP growth slows to 5% (Lead)
- By NewsOnFloor Staff
- Aug 30, 2019
- 95 views
New Delhi, Aug 30 (IANS) India's GDP growth rate continued its downslide for the fourth quarter on the trot to 5 per cent in the first quarter of FY2019-20 from 5.8 per cent in Q4 of FY2018-19.
This effectively means that the country's growth rate has fallen by 3 per cent in barely a year's time.
This is the fourth successive decline in the GDP, from 8 per cent in Q1 FY19 to 5 per cent in this quarter.
According to the National Statistical Office (NSO), the GDP at 'Constant (2011-12) Prices' in Q1 of FY2019-20 is estimated at Rs 35.85 lakh crore, as against Rs 34.14 lakh crore in Q1 of 2018-19, showing a growth rate of 5 per cent.
Source : ians