Connect with us

Business

India’s GDP growth dips to 3.1% in Q4

Published

4 months ago

on

Slowing down of business activities across the world in January-March impacted the Indian economy.

In 2019-20, the Indian economy grew by 4.2 per cent against 6.1 per cent expansion in 2018-19.

India’s economic growth slipped to 3.1 per cent in the January-March quarter of 2019-20 showing impact of COVID-19 pandemic.

The gross domestic product (GDP) had expanded by 5.7 per cent in the corresponding quarter of 2018-19, according to data released by the National Statistical Office (NSO) on Friday.

In 2019-20, the Indian economy grew by 4.2 per cent against 6.1 per cent expansion in 2018-19.

The government imposed lockdown on March 25 to combat COVID-19.

However, slowing down of business activities across the world in January-March impacted the Indian economy.

The Reserve Bank had pegged the GDP growth for 2019-20 at 5 per cent as projected by the NSO in its first and second advance estimates released earlier this year in January and February respectively.

China’s economy shrank by 6.8 per cent in January-March 2020 due to the impact of coronavirus infection.

Related Topics:

Smith, being a tech freak, manages to write Technology and Science news. He is one of the most experienced guy in the team as he boasts 5+ years of experience in content writing for the web. He never fails to deliver. He is very consistent in what he does. Apart from work, he loves running in the morning to stay fit. He is so much into the fitness that he always encourages everyone in the team for changing their living habits to live a healthier life.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending