• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

GDP growth for 2018-19 estimated to be 7.2 %

|

New Delhi, Jan 7: India's GDP growth for the financial year 2018-19 could be 7.2 percent which is 0.5 percent higher than fiscal 2017-18 when it stood at 6.7 percent.

In the first quarter of 2018-19 ending 30 June, the GDP grew at 8.2%, after 7.7% in the first three months of the year (i.e. Q4 of 2017-18). The GDP growth rate then slipped to 7.1% in the quarter ended 30 September.

GDP growth for 2018-19 estimated to be 7.2 %

Fitch Ratings has slashed India's GDP growth forecast to 7.2% for 2018-19, from 7.8% projected in September, citing higher financing cost and reduced credit availability.

GDP growth for Q1 of financial year 2018-19 is 8.2%

India replaced France as the sixth-largest economy in the world in 2018, and is expected to make further gains on this front in the near future. Projections by the International Monetary Fund (IMF) suggest that India will continue to outperform China in economic growth until 2023.

India's Gross Domestic Product (GDP) growth has been higher than that of China in all years except 2017. The Indian economy has also been the fastest-growing major economy in the world during this period.

Experts, however, expect that moderating growth can force the government to spend more before 2019 Lok Sabha elections and that could lead to fiscal pressures.

Slowing GDP growth cause for concern: Ex- economic advisor Kaushik Basu

Global factors such as sudden rise in crude oil prices (which are now easing), strengthening US dollar, slowing growth in the wake of US-China trade war and the US Federal Reserve hiking interest rate for the fourth time in a year took their toll on the Indian economy.

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more