Report By Samaah Saleem| Mount Carmel College Student Bengaluru | Last Updated at Dec 1 2019
Economic growth hit a six-year low of 4.5 per cent in July-September, PTI reported. The low before was recorded at 4.3 per cent in the January-March period of 2012-13. The GDP (Gross Domestic Product) growth was registered at 7 per cent in the 2018-19. During the six-month period between April to September 2019, the Indian Economy grew 4.8 per cent as against 7.5 per cent in the same period a year ago. The Reserve Bank had lowered the GDP growth projection for 2019-20 to 6.1 per cent from earlier forecast of 6.9 per cent.
Experts and economists reacted to the GDP data:
Amar Ambani, Senior President & Research Head, YES Securities:
For FY20, their real GDP forecast stands at 5.2 per cent, with risks to further downside. After 135 basis rate cut delivered by RBI since February, they expect the central bank to cut rates by an additional 25 bps in December, taking the repo rate to 4.90 per cent.
Madan Sabnavis, Chief Economist, CARE Ratings:
The figure came exactly upto 4.50 per cent. GDP has now bottomed out and they may see better quarters going forward.
Ambareesh Baliga, Independent Analyst:
It is more or less in line, floating around in the last couple of days. The Analysts are expecting green shoots in the economy in the first quarter of 2020, which will drive the markets going ahead.
Yield Maximiser, Founder, Yogesh Mehta,
In line with the estimates Q2 GDP is at 4.5 per cent and GVA is at 4.3 percent. Being shut down by auto companies and extended monsoon in Q2 played spoilsport, they may see better growth in Q3 and Q4.