11 ఏళ్ళ కనిష్ట స్థాయికి GDP || GDP At 11 Year Low ||
India’s gross domestic product (GDP) is expected to grow at 5% in FY20, a 11-year low, the Central Statistical Office (CSO) said in its first advanced estimate released on Tuesday. The forecast is even more worrying on the revenue collection front, as nominal GDP growth is expected to fall to 7.5%, the lowest since FY76.
The projected growth for FY20 is the lowest since FY09, when GDP growth plummeted to 3.1% amidst turbulence because of the 2008 global financial crisis. The CSO’s forecast is in keeping with the assessment of the monetary policy committee (MPC) of RBI in its December 2019 meeting. To be sure, these numbers are based on extrapolation of data available up to first half of the fiscal year and could change either way in further revisions.
The GDP growth in FY19 was 6.8%. Over the last two quarters, the GDP has grown at 4.5% (July-September) and 5% (April-June). Even the projected 5% annual estimate assumes a small recovery from October onwards.
https://www.hindustantimes.com/india-news/gdp-expected-to-grow-at-11-year-low/story-HHVwHXt5MQfzKw3prcggAJ.html
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11 ఏళ్ళ కనిష్ట స్థాయికి GDP || GDP At 11 Year Low || India’s gross domestic product (GDP) is expected to grow at 5% in FY20, a 11-year low, the Central Statistical Office (CSO) said in its first advanced estimate released on Tuesday. The forecast is even more worrying on the revenue collection front, as nominal GDP growth is expected to fall to 7.5%, the lowest since FY76. The projected growth for FY20 is the lowest since FY09, when GDP growth plummeted to 3.1% amidst turbulence because of the 2008 global financial crisis. The CSO’s forecast is in keeping with the assessment of the monetary policy committee (MPC) of RBI in its December 2019 meeting. To be sure, these numbers are based on extrapolation of data available up to first half of the fiscal year and could change either way in further revisions. The GDP growth in FY19 was 6.8%. Over the last two quarters, the GDP has grown at 4.5% (July-September) and 5% (April-June). Even the projected 5% annual estimate assumes a small recovery from October onwards. https://www.hindustantimes.com/india-news/gdp-expected-to-grow-at-11-year-low/story-HHVwHXt5MQfzKw3prcggAJ.html