According to the ministry of finance, what was the growth rate of the indian economy in the first quarter of 2018-2019
Answers
NEW DELHI: India’s economy grew at a slower-than-expected pace in the September quarter, easing by over a percentage point from the nine-quarter high of the preceding three-month period as a weak rupee, rising crude prices and tight liquidity conditions in the financial markets dented sentiment.
Gross domestic product (GDP) expanded 7.1% in the second quarter of the fiscal year, down from 8.2% in the April-June period, data released by the statistics office showed. Slower manufacturing growth and 2.4% contraction in mining contributed to decline in growth.
Economists had pegged their estimates at 7.2-7.9% in an ET poll last week. The economy expanded 6.3% in the September quarter last year. The high growth in first quarter was seen as an aberration because of the pronounced base effect of low growth in the year earlier. Full-year growth is, however, broadly expected to be on target, economists said. The Reserve Bank of India has forecast 7.4% growth in FY19.
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