India's GDP growth rate for 2019-20 estimated at 5 per cent against 6.8 per cent in 2018-19 (Photo Credit: Representative image)
The Indian economy is estimated to grow at 5 per cent in 2019-20 as against 6.8 per cent in the previous fiscal, according to government data. The decline has been mainly on account of deceleration in manufacturing sector growth, which is expected to come down to 2 per cent in 2019-20 from 6.2 per cent in the year-ago fiscal, as per the first advanced estimates of the national income released by National Statistical Office(NSO) on Tuesday.
The deceleration was also witnessed in sectors like agriculture, construction and electricity, gas and water supply. Whereas, some sector, including mining, public administration, and defence, showed minor improvement.