GDP Growth Improves Marginally to 4.7% in Q3 From 4.5 % in Previous Quarter

New Delhi, February 28: India's GDP growth rate during the third quarter of the current fiscal and inched up to 4.7 per cent from 4.5 per cent reported for the previous quarter. According to official data released by the government on Friday, the GDP at Constant (2011-12) Prices in Q3 of 2019-20 is estimated at Rs 36.65 lakh crore, as against Rs 35.00 lakh crore in Q3 of 2018-19, showing a growth of 4.7%. India's GDP growth in full FY19 had stood at 6.8 per cent. The next release of quarterly GDP estimates for the quarter January-March, 2020 (Q4 of 2019-20) and Provisional Annual Estimates for the year 2019-20 will be on May 29, 2020.

The macro-economic data point of the national income and the GDP was released on Friday. This means, the GDP at current prices has grown by 7.7% in the third quarter of 2019-20 as compared to 11.4% in Q3 of 2018-19. The GDP at current prices in the year 2019-20 is estimated to attain a level of Rs 203.85 lakh crore, as against Rs 189.71 lakh crore in 2018-19, showing a growth rate of 7.5 percent. Narendra Modi Govt Revises GDP Growth Rate To 6.1% From 6.8% For FY 2018-19.

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Earlier, several economists had predicted that the GDP growth rate is seen in the range of 4.6-4.8 per cent for the third quarter from 4.5 per cent reported for the second quarter of the current fiscal. India Ratings and Research gave a forecast of 4.7 per cent for Q3 GDP. The Reserve Bank of India (RBI) had also estimated 5 per cent GDP growth for 2019-20.

(The above story first appeared on LatestLY on Feb 28, 2020 06:02 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).