The Indian economy is estimated to grow at 5% in 2019-20 as against 6.8% in the previous fiscal, according to government data.
The decline has been mainly on account of deceleration in manufacturing sector growth, which is expected to come down to 2% in 2019-20 from 6.2% in the year-ago fiscal, as per the first advanced estimates of the national income released by National Statistical Office(NSO) on Tuesday (January 7).
The deceleration was also witnessed in sectors like agriculture, construction and electricity, gas and water supply. Whereas, some sector, including mining, public administration, and defence, showed minor improvement.