India’s GDP growth slips to 4.7% in October-December quarter

The growth of India’s gross domestic product (GDP) was recorded at 4.7 per cent in October-December quarter in 2019, according to the data released by the National Statistical Office (NSO) on Friday (February 28).

The GDP growth was registered at 5.6 per cent in the corresponding quarter of 2018-19, as per the official data.

During the nine-month period (April-December 2019), Indian economy grew 5.1 per cent as against 6.3 per cent in the same period a year ago. The GDP growth rate for the first quarter of 2019-20 was revised to 5.6 per cent, and for the second quarter to 5.1 per cent.

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The NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates released on Friday, the same as its estimates last month.

The Reserve Bank had also estimated 5 per cent GDP growth for 2019-20. China’s economic growth was 6 per cent in October-December 2019, which was the weakest expansion in over 27 years. China’s economic growth was 6.1 per cent in 2019 (calendar year), the slowest in about three decades.

(With inputs from agencies)