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India's GDP Growth Slips To 7-Year Low To 5% In Quarter 1

India's economic growth dropped to a seven-year low of 5 per cent in the April-June quarter of 2019-20 due to a sharp deceleration in the manufacturing sector and sluggish agriculture output, according to official data released on Friday. The previous low was recorded at 4.9 per cent in April-June 2012-13. The economic growth was 8 per cent in the same quarter of 2018-19. The Reserve Bank had marginally lowered the GDP growth projection for 2019-20 to 6.9 per cent from 7 per cent projected earlier in the June policy, and underlined the need for addressing growth concerns by boosting aggregate demand.

Updated : 30 August 2019, 06:49 PM