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Quarterly GDP Growth Misses Estimates, Grows Slowest In Six Years At 5 Per Cent As Manufacturing Growth Takes A Hit
Prime Minister Narendra Modi with Finance Minister Nirmala Sitharaman (Virendra Singh Gosain/Hindustan Times via Getty Images)
Facing global headwinds, the Indian economy has recorded its lowest quarterly growth rate in six years at 5 per cent in Q1 FY20, with the GDP recorded at an estimated Rs 35.85 lakh crore, as against Rs 34.14 lakh crore in Q1 of 2018-19.
Estimates of the growth had hovered around 5.7 per cent following a similar 5.8 per cent growth in the last quarter. The trend is in line with declining global growth rates and falling manufacturing growth across several large economies.
The mining and quarrying sector however recorded a GVA addition of 2.7 per cent over the 0.4 per cent growth in FY19.
The Agriculture, Forestry and Fishing recorded the second slowest growth at 2 per cent over the 5.1 growth recorded in FY19. The chart released by the government showing the growth in various sectors is as follows
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