India's growth slumps to over 6-year low of 5% in June quart; below China's
జీడీపీ వృద్ధిరేటు ఢమాల్
30-08-2019 20:24:01
న్యూఢిల్లీ: 2019-20 సంవత్సరం మార్చితో ముగిసిన తొలి త్రైమాసికంలో మన దేశ స్థూల జాతీయ ఆదాయం (జీడీపీ) వృద్ధి రేటు 0.8 శాతం తగ్గి 5 శాతానికి చేరింది. ఏడేళ్ల కనిష్టానికి వృద్ధి రేటు పడిపోయింది. గత ఏడాది ఇదే కాలానికి జీడీపీ వృద్ధి రేటు 5.8 శాతంగా ఉందని ఏఎన్ఐ వార్తా సంస్థ తెలిపింది. ఆటో, మాన్యుఫ్యాక్చరింగ్, రియల్ ఎస్టేట్ వంటి రంగాలు క్లిష్ట పరిస్థితులను ఎదుర్కొంటూ ఆర్థిక మందగమనం కనిపిస్తున్న తరుణంలో తాజా గణాంకాలు వెలువడటం ఆందోళన కలిగించే పరిణామంగా అంచనా వేస్తున్నారు.
India's growth slumps to over 6-year low of 5% in June quart; below China's
PTI | Updated August 30, 2019
https://timesofindia.indiatimes.com/business/india-business/indias-growth-slumps-to-over-6-year-low-of-5-in-june-qtr-below-chinas/articleshow/70914221.cms
China's 6.2 per cent in April-June, its weakest pace in at least 27 years.
CEA K V Subramanian said India's GDP numbers indicate that growth while still high, has shown some slowdown
The Chief Economic Adviser said the government has been taking all necessary steps in short term and medium term to take care of the situation
NEW DELHI: India's economic growth on Friday slumped for the fifth straight quarter to an over six-year low of 5 per cent . in the three months ended June as consumer demand and private investment slowed amid deteriorating global environment.
Having lost the tag of the world's fastest-growing economy earlier this year, India's GDP growth was behind China's 6.2 per cent in April-June, its weakest pace in at least 27 years.
The Gross Domestic Product (GDP) of India, Asia's third-largest economy, slumped by larger than expected 5 per cent in April -June the slowest pace since January-March 2013.
The growth stood at 5.8 per cent in January-March of 2019 and 8 per cent of April-June 2018, according to official data released on Friday.
Government's Chief Economic Adviser K V Subramanian said India's GDP numbers indicate that growth while still high, has shown some slowdown.
"Similar phenomenon has been observed previously in the last quarter of 2013-14," he said.
"This has been on account of both exogenous and endogenous factors. The government is quite alive to the situation especially global headwinds arising out of deceleration in the developed economic and Sino-American trade conflict which has contributed to the slowdown," he noted.
Prior to announcement of GDP numbers, the government on Friday announced its second of the three-part stimulus, merging 10 public sector banks into four with a view to boost credit to help revive the economy.
Last week, the first stimulus package was announced that included reduction of taxes, improvement of liquidity in the banking sector (formal and shadow), increased government spending on auto and infrastructure, and accelerated refunds of Goods and Services Tax (GST).
This was followed by liberalisation of foreign investment rules in four sectors - coal mining, contract manufacturing, single-brand retail and digital media.
A third and possibly last package, expected in the next few days, may deal with issues facing the realty sector.
The Chief Economic Adviser said the government has been taking all necessary steps in short term and medium term to take care of the situation.
"The investment rate actually seems to be picking up. The capacity utilisation is increasing now and is now comfortably above 76 per cent " he said. "What is critical for that 8 per cent growth is investment", he added.
The Budget for 2019-20, he said, has announced Rs 100 lakh crore investment in infrastructure creation in the next five years which has the ability to crowd in investment.
"Given some of the green shoots I have spoken on the investment side, we should be assured that higher growth would start manifesting in some time. Right now, we are sticking to the forecast of achieving 7 per cent growth in FY20 (April 2019 to March 2020)," Subramanian said.
30-08-2019 20:24:01
న్యూఢిల్లీ: 2019-20 సంవత్సరం మార్చితో ముగిసిన తొలి త్రైమాసికంలో మన దేశ స్థూల జాతీయ ఆదాయం (జీడీపీ) వృద్ధి రేటు 0.8 శాతం తగ్గి 5 శాతానికి చేరింది. ఏడేళ్ల కనిష్టానికి వృద్ధి రేటు పడిపోయింది. గత ఏడాది ఇదే కాలానికి జీడీపీ వృద్ధి రేటు 5.8 శాతంగా ఉందని ఏఎన్ఐ వార్తా సంస్థ తెలిపింది. ఆటో, మాన్యుఫ్యాక్చరింగ్, రియల్ ఎస్టేట్ వంటి రంగాలు క్లిష్ట పరిస్థితులను ఎదుర్కొంటూ ఆర్థిక మందగమనం కనిపిస్తున్న తరుణంలో తాజా గణాంకాలు వెలువడటం ఆందోళన కలిగించే పరిణామంగా అంచనా వేస్తున్నారు.
India's growth slumps to over 6-year low of 5% in June quart; below China's
PTI | Updated August 30, 2019
https://timesofindia.indiatimes.com/business/india-business/indias-growth-slumps-to-over-6-year-low-of-5-in-june-qtr-below-chinas/articleshow/70914221.cms
China's 6.2 per cent in April-June, its weakest pace in at least 27 years.
CEA K V Subramanian said India's GDP numbers indicate that growth while still high, has shown some slowdown
The Chief Economic Adviser said the government has been taking all necessary steps in short term and medium term to take care of the situation
NEW DELHI: India's economic growth on Friday slumped for the fifth straight quarter to an over six-year low of 5 per cent . in the three months ended June as consumer demand and private investment slowed amid deteriorating global environment.
Having lost the tag of the world's fastest-growing economy earlier this year, India's GDP growth was behind China's 6.2 per cent in April-June, its weakest pace in at least 27 years.
The Gross Domestic Product (GDP) of India, Asia's third-largest economy, slumped by larger than expected 5 per cent in April -June the slowest pace since January-March 2013.
The growth stood at 5.8 per cent in January-March of 2019 and 8 per cent of April-June 2018, according to official data released on Friday.
Government's Chief Economic Adviser K V Subramanian said India's GDP numbers indicate that growth while still high, has shown some slowdown.
"Similar phenomenon has been observed previously in the last quarter of 2013-14," he said.
"This has been on account of both exogenous and endogenous factors. The government is quite alive to the situation especially global headwinds arising out of deceleration in the developed economic and Sino-American trade conflict which has contributed to the slowdown," he noted.
Prior to announcement of GDP numbers, the government on Friday announced its second of the three-part stimulus, merging 10 public sector banks into four with a view to boost credit to help revive the economy.
Last week, the first stimulus package was announced that included reduction of taxes, improvement of liquidity in the banking sector (formal and shadow), increased government spending on auto and infrastructure, and accelerated refunds of Goods and Services Tax (GST).
This was followed by liberalisation of foreign investment rules in four sectors - coal mining, contract manufacturing, single-brand retail and digital media.
A third and possibly last package, expected in the next few days, may deal with issues facing the realty sector.
The Chief Economic Adviser said the government has been taking all necessary steps in short term and medium term to take care of the situation.
"The investment rate actually seems to be picking up. The capacity utilisation is increasing now and is now comfortably above 76 per cent " he said. "What is critical for that 8 per cent growth is investment", he added.
The Budget for 2019-20, he said, has announced Rs 100 lakh crore investment in infrastructure creation in the next five years which has the ability to crowd in investment.
"Given some of the green shoots I have spoken on the investment side, we should be assured that higher growth would start manifesting in some time. Right now, we are sticking to the forecast of achieving 7 per cent growth in FY20 (April 2019 to March 2020)," Subramanian said.
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