As per the data released by the government, India reported a better than expected growth of 4.2 per cent in FY20, reports India Today. Although the figure marks the lowest growth rate in 11 years, the performance is higher than what many experts had forecast.
A massive contraction in manufacturing and construction activities pulled India's GDP growth rate down to 3.1 per cent in the last quarter of 2019-20 from Q3's 4.1 per cent and 5.7 per cent rise reported for the like period of the previous fiscal. The government said that the figures are likely to undergo further revisions.
The government has also published the revised GDP growth data of previous quarters as follows:
- Q1 now stands a at 5.2 per cent revised downward from 5.6 per cent
- Q2 4.4 per cent now, revised downward from earlier 5.1 per cent
- Q3 revised downward to 4.1 per cent now, from earlier 4.7 per cent
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