GDP For Financial Year 2018-19 Down To 6.8% vs 7.2% in 2017-18, Q4 GDP Falls To 5.8%; India Loses Fastest Growing Economy Tag
The Gross Domestic Product (GDP) in the fourth quarter slowed to 5.8 percent as compared to the previous quarter. In December quarter the GDP was recorded at 6.6 percent.
New Delhi, May 31: The Gross Domestic Product (GDP) in the fourth quarter slowed to 5.8 percent as compared to the previous quarter. In December quarter the GDP was recorded at 6.6 percent. The annual GDP also falls to 6.8 percent. This year’s annual GDP growth is reported to be at a five-year low. In 2017-18 the GDP was recorded at 7.2 percent. Meanwhile, India also lagged behind China in terms of GDP. In the March quarter, China’s GDP was 6.4 percent. India's GDP Estimated to Grow at 7.2%; Agriculture and Manufacturing Among Accelerating Factors: CSO.
The fiscal deficit for 2018-19 came in at 3.39 per cent of GDP, marginally lower than 3.4 percent which was estimated in the Budget. Meanwhile, the combined Index of Eight Core Industries stood at 127.5 in April, 2019, which was 2.6 percent higher as compared to the index of April, 2018. Its cumulative growth from April to March, 2018-19 was 4.3 percent. Coal production increased by 2.8 percent in April. Its cumulative index increased by 7.4 percent from April to March, 2018-19. India Lost 4% of GDP from Power Distortions in 2016: World Bank.
Meanwhile, Petroleum Refinery production also increased by 4.3 percent in April. Similarly, Petroleum Refinery production, Steel production, Cement production and Electricity generation also increased in April. However, Crude Oil production, Natural Gas production and Fertilizers production declined in April.
(The above story first appeared on LatestLY on May 31, 2019 05:55 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).