India’s Gross Domestic Product (GDP) for the July-September quarter decelerated to 4.5 per cent, lowest in 26 quarters, data released by National Statistical Office (NSO) on Friday showed.
The Gross Value Added (GVA) for the second quarter (July-September) was recorded at 4.3 per cent.
“GDP at Constant (2011-12) Prices in Q2 of 2019-20 is estimated at Rs 35.99 lakh crore, as against Rs 34.43 lakh crore in Q2 of 2018-19, showing a growth rate of 4.5 per cent. Quarterly GVA (Basic Price) at Constant (2011-2012) Prices for Q2 of 2019-20 is estimated at Rs 33.16 lakh crore, as against Rs 31.79 lakh crore in Q2 of 2018-19, showing a growth rate of 4.3 percent over the corresponding quarter of previous year,” the government said in a statement.
The last time when the GDP growth went below 5 per cent was in March 2013, when it decelerated to 4.3 per cent.
It was also seen that growth of the core sector (eight core industries comprises coal, crude oil, natural gas, steel, cement, electricity, fertilizer and refinery products) for the month of October contracted to 5.8% from the 5.2% contraction seen in September.
The index of the core sector saw a fall due to electricity which reported a de-growth of 12.4% vs -3.7% in September.