India’s quarter 3 FY20 GDP growth at 4.7%; earlier growth rates revised

NEW DELHI: New Delhi, Feb 28 (IANS) India’s 2019-20 third-quarter GDP growth rate stood at 4.7 percent, official data showed on Friday.

Interestingly, the data furnished by the National Statistical Office (NSO) in the ‘Second Advance Estimates of National Income, 2019-20’ as well as ‘Quarterly Estimates of GDP for Q3, 2019-20’, showed revised growth figures for earlier periods. As per the data, the revised second-quarter GDP growth rate stood at 5.1 percent from the earlier 4.5 percent.

Other revisions include the year-on-year growth rate of 5.6 percent in Q3 2018-19 from an earlier estimate of 6.6 percent. According to the revised data, the current 4.7 percent growth rate would now be the slowest in around the last six years.

On a sequential basis, the growth rate came at 7.1 percent recorded in Q1 of 2018-19, followed by 6.2 percent in Q2 in the same fiscal and 5.6 in Q3 FY19. In 2019-20, the revised figures showed that the growth stood at 5.6 percent in Q1, 5.1 percent in Q2, and 4.7 percent in Q3. “Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2019-20 is estimated to attain a level of Rs 146.84 lakh crore, as against the ‘First Revised Estimate of GDP’ for the year 2018-19 of Rs 139.81 lakh crore, released on 31st January 2020,” the NSO said. “GDP at Constant (2011-12) Prices in Q3 of 2019-20 is estimated at Rs 36.65 lakh crore, as against Rs 35 lakh crore in Q3 of 2018-19, showing a growth of 4.7 percent,” it added. (IANS)

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