Nov. 30, 2019

According to data released by National Statistical Office, India’s GDP growth rate slipped to a 26-quarter low of 4.5 per cent in July-September, due to contraction in manufacturing growth.


  • The previous low for the country’s GDP growth was 4.3 per cent during January-March 2012-13.

  • In July-September, manufacturing growth slumped to (-)1.0 per cent as against 6.9 per cent growth last year, while the “agriculture, forestry and fishing” sector recorded a growth rate of 2.1 per cent as against 4.9 per cent last year.

  • At 4.5 per cent, the GDP growth rate is much lower than 5.3 per cent projected for July-September by the Reserve Bank of India (RBI) in its October policy.

  • With this, GDP growth rate for April-September, the first half of this fiscal, is now at 4.8 per cent as against 7.5 per cent growth in the year-ago period.

  • Growth rate in terms of Gross Value Added (GVA), which is GDP minus net product taxes, has slowed to 4.3 per cent in July-September as against 6.9 per cent a year ago.