GDP Growth for Q1 2019-20 slips to 6 Year Low | Slowdown Deepens
With last quarter's (Q4 2018-19) 5.8% GDP growth, India lost its " Fastest growing major economy " tag to China. China's economy grew by 6.2% despite trade war with US. Also Indian economy slipped to 7th largest economy after UK and France overtook and became 5th and 6th largest economy. Q1 2019-20 GDP number further slips. The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the first quarter (April-June) Q1 of 2019-20 on 30th August. The GDP growth rate for the first quarter is 5.0% . Growth in the Gross Value Added (GVA) for the fourth quarter is at 4.9% . With 5% growth, India's economy registered weakest growth in more than 6 years. Major reason could be the Manufacturing sector and Private Consumption Expenditure. Manufacturing sector growth crashed to 0.6% and Private Consumption Expenditure decelerated to 18 month low at 3.1% . Quarterl...