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Added on : 2019-08-31 07:56:08

The country’s GDP growth slowed to an over six-year low of 5% in the April-June quarter, dragged down by manufacturing sector expansion of just 0.6%, sluggish financial services, farm and construction sectors and a slowdown in consumption.
Data released by the National Statistics Office (NSO) on Friday showed GDP growth in the April-June quarter, the first quarter of the fiscal year, slowed to 5%, lower than the 5.8% in the previous quarter and below the 8% in the first quarter of the previous year.

The June quarter growth was the slowest since the March quarter of 2012-13, when the UPA was in office, making this the worst quarterly performance under the Modi government's watch. The latest number is a 25-quarter low.

The data came on a day when finance minister Nirmala Sitharaman unveiled a mega bank merger plan, following up on the measures announced last week to give boost to the economy.
 

The country’s GDP growth slowed to an over six-year low of 5% in the April-June quarter, dragged down by manufacturing sector expansion of just 0.6%, sluggish financial services, farm and construction sectors and a slowdown in consumption.
Data released by the National Statistics Office (NSO) on Friday showed GDP growth in the April-June quarter, the first quarter of the fiscal year, slowed to 5%, lower than the 5.8% in the previous quarter and below the 8% in the first quarter of the previous year.

The June quarter growth was the slowest since the March quarter of 2012-13, when the UPA was in office, making this the worst quarterly performance under the Modi government's watch. The latest number is a 25-quarter low.

The data came on a day when finance minister Nirmala Sitharaman unveiled a mega bank merger plan, following up on the measures announced last week to give boost to the economy.
 

Editor & Publisher : Dr Dhimant Purohit

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