TIL Desk/Business/New Delhi/ India’s GDP growth is seen dipping to an 11-year low of 5 per cent in the current fiscal, mainly due to poor showing by manufacturing and construction sectors, government data showed on Tuesday.
As per the first advance estimates of the national income released by the National Statistical Office (NSO), the manufacturing sector output growth will decelerate to 2 per cent in 2019-20, down from 6.9 per cent in the previous financial year.
Likewise, the construction sector growth is estimated at 3.2 per cent as against 8.7 per cent in 2018-19. According to back series GDP data released by the government in November 2018, the previous low in economic growth was recorded at 3.1 per cent in 2008-09.
The dismal performance for the fiscal was anticipated as the Gross Domestic Product (GDP) growth in the first quarter was 5 per cent and 4.5 per cent in the subsequent three-months period.
