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Manufacturing Dip Pulls India's Q1 Growth Rate to 5%

Manufacturing Dip Pulls Indias Q1 Growth Rate to 5%

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  31 Aug 2019 1:22 PM GMT

New Delhi: Severe slowdown in manufacturing activity in the country pulled India's Q1 2019-20 growth rate to 5 percent, the fourth successive quarter of decline in growth rate on the trot.

From 8 percent during Q1FY19 to 5 percent in this quarter, the Gross Domestic Product (GDP) has fallen by three percent in barely a year. On a sequential basis, the growth rate came lower than the 5.8 percent in Q4 of 2018-19. According to National Statistical Office (NSO), the Gross Domestic Product (GDP) at 'Constant (2011-12) Prices' in Q1 of 2019-20 is estimated at Rs 35.85 lakh crore, as against Rs 34.14 lakh crore in Q1 of 2018-19, showing a growth rate of 5 percent.

Besides the data showed that Gross Value Added (GVA) growth rate during the first quarter of 2019-20 on a year-over-year (YoY) basis fell to 4.9 percent, from 7.7 percent during the like period of the previous fiscal. The Gross Value Added includes taxes but excludes subsidies.

"Gross Value Added at 'the Basic Price at Constant (2011-12) Prices' for Q1 of 2019-20 is estimated at Rs 33.48 lakh crore, as against Rs 31.90 lakh crore in Q1 of 2018-19, showing a growth rate of 4.9 percent over the corresponding quarter of the previous year," the National Statistical Office said in a statement.

The Gross Value Added includes taxes but excludes subsidies.

"The economic activities which registered a growth of over 7 percent in Q1 of 2019-20 over Q1 of 2018-19 are 'electricity, gas, water supply and other utility services', 'trade, hotels, transport, communication and services related to broadcasting' and 'public administration, defence, and other services'." "The growth in the 'agriculture, forestry and fishing', 'mining and quarrying', 'manufacturing', 'construction' and 'financial, real estate and professional services' is estimated to be 2 percent, 2.7 percent, 0.6 percent, 5.7 per cent, and 5.9 per cent, respectively, during this period." (IANS)

Q1 FY20 GDP growth -- 5 %

Q4 FY19 - 5.8 %

Q3 FY19 - 6.6 %

Q2 FY19 - 7.0 %

Q1 FY19 - 8.0 %

FY19 - 6.8 %

FY18 GDP growth - 7.2 %'

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