Published On: Fri, Feb 28th, 2020

GDP grows at 4.7 per cent in 2019-20 October-December quarter

New Delhi: India registered an economic growth rate of 4.7 per cent in the October-December quarter (Q3) of financial year 2019-2020, which is 0.4 per cent less than the rate recorded in the July-September quarter (Q2), according to the data released by the National Statistical Office (NSO) on Friday (February 28, 2020). Earlier, in the second quarter of the 2019-2020 financial year, India’s Gross Domestic Product (GDP) growth rate was estimated at 4.5 per cent which was corrected to 5.1 in the data released on Friday.

The 2019-2020 Q3 GDP growth rate is 0.9 per cent lower than the figures a year ago

According to the data, the GDP at Constant (2011-12) Prices in 2019-20 October-December quarter (Q3) is estimated at Rs 36.65 lakh crore compared to Rs 35.00 lakh crore in October-December (Q3) of the financial year 2018-19. Commenting on the GDP numbers, Economic Affairs Secretary Atanu Chakraborty claimed that India’s growth decline had bottomed out.

However, the 2019-2020 Q3 GDP growth rate is 0.9 per cent lower than the figures a year ago (Q3 of the financial year 2018-2019) when Indian economy had grown by 5.6 per cent.

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