India’s GDP growth rate ‘much weaker’ than expected – IMF Report

India’s GDP growth rate ‘much weaker’ than expected: The International Monetary Fund have said  that India’s economic growth is “much weaker” than expected due to corporate and environmental regulatory uncertainty and lingering weaknesses in some non-banking financial companies.

IMF Report:

  • India’s GDP growth rate slipped to 5 per cent in the first quarter of 2019-20, the lowest in over six years, according to latest official data.
  • The International Monetary Fund (IMF) in July projected a slower growth rate in 2019 and 2020 for India.
  • A downward revision of 0.3 per cent for both the years, its Gross Domestic Product (GDP) will now grow at the rate of 7 % and 7.2 % respectively, reflecting a weaker-than expected outlook for domestic demand.
  • Its latest assessment indicates the multilateral body will likely trim its India growth forecast again in October when it will update its projections for global growth.
  • India will be the fastest growing major economy of the world ahead of china had been said by the Washington based global financial institution.
  • Various domestic and foreign analysts have trimmed their India forecasts for the current fiscal, with some pegging it at below 6.5%.
  • The previous low in GDP growth was recorded at 4.3 per cent in January-March quarter of 2012-13. India’s economic growth stood at 8 per cent in the same quarter of 2018-19.
  • The economic growth slowed to a seven year low of 5% in April to June quarter from 8% a year ago.

The GDP at Constant (2011-12) Prices in Q1 of 2019-20 is estimated at Rs 35.85 lakh crore, as against Rs 34.14 lakh crore in Q1 of 2018-19, showing a growth rate of 5 %,” the National Statistical Office (NSO) said in a statement.

The big growth slowdown over the last two quarters was despite the fiscally stressed government continuing to pump-prime the economy via budgetary and extra-budget expenditure.

Check Here for Free Reasoning Questions PDF

Free Aptitude Questions PDF

Note: We have launched separate webiste for Free PDF which has All Free PDF Materials, Topic wise questions on Reasoning, Aptitude, English, General Awareness, Current Affairs, Insurance Awareness, Banking Awareness, Previous Year Question Paper and more. Visit: pdf.exampundit.in

Click Here to Join Our What’s App Group & Get Instant Notification on Study Materials & PDFs

Click Here to Join Our Official Telegram Channel