The growth rate of Indian Economy slowed down to 5-year low of 5.8% in January-March 2018-19.
The growth rate of Indian economy slowed down to 5-year low of 5.8% in January-March 2018-19.
As per the Central Statistics Office (CSO)’s data released on May 31, the Gross Domestic Product (GDP) growth during 2018-19 fiscal stood at 6.8%, lower than 7.2% in the previous Financial Year.
The growth GDP was sluggish since 2014-15. The previous low was 6.4% in 2013-14.
Why India’s economic growth rate slowed to 5-year low?
The economic growth of India slowed down to five-year low for the reason that the performance of agriculture Sectors as well as manufacturing Sectors recorded a poor average.
The long-term growth perspective of the Indian Economy is positive due to its young Population, healthy savings and Investment rates, and increasing integration into the Global Economy.
Since 2014 with the exception of 2017, India’s economy has been the world’s fastest growing major economy, surpassing China.