India’s GDP development pace began to decline from 5.8 per cent in Q4 of FY2018-19 for the fourth quarter on the trot to 5 per cent in the first half of FY2019-20. This efficiently implies that in scarcely a year the development level of the country has dropped by 3 per cent.
This is the fourth successive decline in the GDP, from 8 per cent in Q1 FY19 to 5 per cent in this quarter.
According to the National Statistical Office (NSO), the GDP at ‘Constant (2011-12) Prices’ in Q1 of FY2019-20 is estimated at Rs 35.85 lakh crore, as against Rs 34.14 lakh crore in Q1 of 2018-19, showing a growth rate of 5 per cent.