India's Growth Rate Lowest Since 2009, 4.2% in 2019-20

by GoNews Desk 11 months ago Views 1590

India's Growth Rate Lowest Since 2009, 4.2% in 201
India's economy has taken a drastic hit as per the latest figures released by the Union Ministry of Statistics. According to the ministry, in the last quarter of 2019-20 ie from January to March, GDP was only 3.1% whereas, in 2019-20, India's growth rate was only 4.2%. India's growth rate was more than 6% in the year 2018-19.

Such unfavourable conditions were seen in India only in 2009 when the whole world was experiencing an economic meltdown. The government had earlier estimated the growth rate to be around 5% in 2019. Clearly, 3.1% of the last quarter clearly shows how the government is struggling badly on the economic front.

An epidemic or lockdown cannot be attributed in any way to this reduced growth rate because it includes only five days of March when the lockdown occurred. It can be said that the figures are likely to come down even further in the coming quarter.

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