India’s Gross Domestic Product (GDP) has dropped to 6.6 percent in the third quarter of Financial Year 2019.
The economy, however, reported a growth of 7.1 percent in the second half and 8.2 percent in the first quarter, logging 7.6% for the first half.
Experts believe that weaker domestic and external demands are the prime factors responsible for the sub-7 percent growth.
Despite the lag, India would still be growing swifter than China’s 6.4 percent growth in the same quarter.
Quarter one has now been revised to 8 percent from 8.2 percent and 7 percent from 7.12 percent in quarter 2.
In the December policy, the GDP growth for 2018-19 was projected at 7.4 per cent (7.2-7.3 per cent in H2) and at 7.5 per cent for H1:2019-20, said the 6th bi-monthly monetary policy review
The CSO estimated the GDP rise to be at 7.2 per cent for 2018-19.
For 2019-20, the GDP growth is projected at 7.4 per cent – in the range of 7.2-7.4 per cent in H1, and 7.5 per cent in Q3 – with risks evenly balanced.