The National Statistical Office has also revised downwards the growth in the October-December quarter of 2019-20 to 4.1 per cent from 4.7 per cent. Similarly, the first and second quarter growth figures were revised downwards to 5.2 per cent and 4.4 per cent from 5.6 per cent and 5.1 per cent, respectively. India’s economic growth slowed to 3.1 per cent in January-March and to an 11-year low of 4.2 per cent for the full fiscal 2019-20 amid a drop in consumption and investment. The Gross Domestic Product (GDP) growth stood at 5.7 per cent in the corresponding quarter of 2018-19, according to data released by National Statistical Office (NSO) on Friday. During 2019-20, the Indian economy grew at 4.2 per cent as against 6.1 per cent in 2018-19. The economic growth was the lowest since 2008-09 when the economy had expanded at 3.1 per cent. The government had imposed a lockdown to curb the spread of COVID-19 infections from March 25, 2020. However, the Indian economy also got impacted during the January-March quarter due to the slowing down of economic activities across the world. The Reserve Bank of India had earlier pegged the GDP growth for 2019-20 at 5 per… Read full this story
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