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.
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.