GDP growth rate: Q3 GDP growth at 4.7% vs 4.5% in previous quarter

After seeing its weakest expansion in over six years in the September quarter, India’s economy fared slightly better.

The slump may have reached its bottom with India’s growth expanding at 4.7% in the quarter ended December 31, on the back of government spending.

The Gross Domestic Product (GDP) growth was registered at 5.6 per cent in the corresponding quarter of 2018-19, as per the data released by the National Statistical Office (NSO).

During the nine-month period (April-December 2019), the Indian economy grew 5.1 per cent as against 6.3 per cent in the same period a year ago.

The GDP growth rate for the first quarter of 2019-20 was revised to 5.6 per cent, and for the second quarter to 5.1 per cent.

Though this may come as a respite, the downside risks to global growth as a result of the coronavirus epidemic are still unfolding.

India’s GDP growth in full FY19 had stood at 6.8 per cent.

As per the Second Advance Estimates, the growth of GVA in 2019-20 at constant (2011-12) prices is estimated at 4.9% compared to 6.0% in 2018-19.

India is closely linked to China through trade and, according to State Bank of India’s (SBI’s) research, more than half of the country’s imports in 19 categories come from China.

The eight core industries recorded a 2.2% growth in January, helped by expansion in the production of coal, refinery products and electricity, official data released on Friday showed. The infrastructure sectors had expanded by 1.5 per cent in January 2019.