India GDP growth sinks to 4.5% in September quarter

India GDP growth sinks to 4.5% in September quarter

Reacting to the GDP data, Edelweiss Securities' Economist Madhavi Arora said: "The GDP growth softened to 4.5 per cent in 2Q - a tad lower than our expectations of 4.7 per cent". "We believe growth could weaken further to 4% in the third quarter of the current financial year, which will mark the trough", said Nikhil Gupta, the chief economist of equity advisory firm Motilal Oswal. Similarly, trade, hotel, transport, communication and services related to broadcasting growth was also down to 4.8 per cent in the second quar-ter from 6.9 per cent a year ago.

Further details of the report showed that the manufacturing sector and the farming sector grew by 1% and 2.1%, respectively, in the same period. The Congress leader also claimed that during Congress' tenure of ten years the GDP growth was at an average of 8.13 percent. The GDP expansion rate moderated from 5 per cent recorded in April-June 2019 and is much weaker than the 7 per cent growth registered in July-September 2018, according to official data released Friday.

The deceleration underscores how the crisis in India's shadow-banking sector, which began with the collapse of major lender IL&FS last year, has rippled through the wider economy, as the easy credit that had facilitated a consumer spending boom in the two preceding years ended abruptly. He expects the government will miss this year's fiscal deficit target of 3.3% of GDP as it boosts spending while tax revenue falters.

The Indian economy will remain under the same stress in the remaining period of the ongoing year, economists opined. "Given the current growth-inflation dynamics India Ratings believes RBI will go for another 25 basis point rate cut in the forthcoming monetary policy review in December 2019".

New Android 10 beta lands on the Galaxy Note 10
The company eventually jumped into the Galaxy S10 Series earlier this year, followed by the 10th grade in the fall. Other than new features and tweaks to existing apps , it also comes with the December security update.

Despite the several steps, analysts and experts and the Opposition, however, raised a hue and cry over the economy's downward trend, saying the government didn't do enough to address the slowdown in demand for the past 2-3 years. The same situation has also been with the construction sector. In the power sector (October growth at negative 13 per cent), financial viability at the distribution and supply end will have to be structured, "otherwise this is likely to drag generation and transmission into sickness very soon", he said.

Earlier this week, replying to a debate on the economic situation, she had categorically said that the growth might have come down but "it is not a recession yet, or it won't be a recession ever". "Aspiration of our country is to grow at 8-9 percent per annum", he said. The sharp decline of GDP from five per cent in Q1 to 4.5 per cent in Q2 is worrisome.

Shubhada Rao, chief economist at Yes Bank Ltd in Mumbai, said, "The weak numbers emphatically underscore the need for a policy focus on growth".

Related News:

Most liked

Deadly storm disrupting Thanksgiving travel across US hits north
Friday into next weekend look decent, but a more active pattern is looking likely for the second week of December into Christmas. All roads in and out of Casper were closed Saturday morning, including the entire 300-mile stretch of Interstate 25 in Wyoming.

Samsung Will Not Release Android 10 Update to Galaxy S8
The Galaxy Note 10 also comes with a dedicated pen accessory, which integrates with Microsoft apps such as OneNote and Outlook. Besides fixing a whole bunch of bugs, the third beta brings up the Note10 family to the December Android security patch level.

Tottenham Hotspur Fans Accept Me As This - Jose Mourinho
Jose Mourinho's flawless start as Tottenham manager stretched to three games as Spurs saw off Bournemouth 3-2 thanks to Dele Alli's double on Saturday.

Huge London 'Explosion' Trending on Twitter Was Sonic Boom, Authorities Say
RAF jets are only given permission to go supersonic in emergencies, usually when they are required to intercept another aircraft. Anybody else heard it?' "Awakened in panic", wrote Lynn James in Hertfordshire.

Facebook labels user's post under new Singapore 'fake news' law
He also posted the article on Twitter , LinkedIn and Google Docs and challenged the government to order corrections there as well. Facebook said it complied after authorities ordered it to put a correction next to the post.

9 dead in plane crash
Knudson says the NTSB will investigate the crash, but inclement weather in the area is making travel to the site hard . The area of the crash was under a winter storm warning, according to the National Weather Service.

Browns safety Damarious Randall to miss Steelers game due to 'coach's decision'
During the fight, Pouncey was seen kicking and punching Garrett after the defensive end struck Rudolph with his own helmet. Freddie Kitchens' wardrobe unintentionally added a little more fire to the already heated Browns-Steelers rivalry.

Trump flies into British election campaign
A senior Trump administration official said that Trump is "absolutely cognizant of not, again, wading into other country's elections".

Malta PM, under fire for response to journo's murder, to quit
The links between Fenech, Mizzi and Schembri put Muscat under pressure to resign after having refused to fire Mizzi and Schmebri. Caruana Galizia, including her son, Matthew, an investigative journalist who worked on the Panama Papers scandal, named Mr.

Disney grants fan’s dying wish to see new ‘Star Wars’ film
Abrams stars Carrie Fisher in her last role, Mark Hamill , Adam Driver, Daisy Ridley , John Boyega and Keri Russel among others. What has happened over the past few days has been truly mind-blowing. " Star Wars: The Rise of Skywalker " directed by J.J.

Deadline set for Trump to decide participation in impeachment hearings
The Judiciary panel has scheduled a Wednesday hearing to consider the historical and constitutional standards for impeachment. Collins has called for a wider array of witnesses at the first hearing .

CM Thackeray confident of passing floor test
On Sunday, the assembly will elect the Speaker. "They have said many words which are not part of constitutional proforma of oath. Chief Minister Uddhav Thackeray paid tributes to Shivaji Maharaj on Vidhan Bhawan premises ahead of the floor test.

Wolves join Braga in last 32 despite second-half collapse
Andre Horta gave the hosts an early lead before Wolves smashed in three goals from Raul Jimenez , Matt Doherty and Adama Traore . A smart stop from Eduardo spared Braga further punishment as he parried away Jota's header five minutes into the second half.

Pixel 3a and Pixel 3a XL Prices Get Slashed by $100
Dark Friday deals on Google items are going on everywhere throughout the web, including at Google's online customer-facing facade. Take advantage of Black Friday pricing and snag the Nest learning thermostat for $179 at Walmart and Amazon and save $70.

Probe into plan to create new Nazi party - English
Italian police have arrested at least 19 people in connection with a militant neo-Nazi ring, national media reported on Thursday. The extremists had also been trying to recruit people on social media and had a group chat called "Militia" to keep in contact.