Published on 28/02/2020 5:42:52 PM | Source: Live Mint

India`s GDP growth improves slightly to 4.7% in December quarter

Posted in Economy News| #India #Economy #GDP #Quarterly Result

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NEW DELHI : India's economic or GDP growth expanded at a slight quicker pace of 4.7% in the quarter ended December 31 as compared to the previous quarter. The median forecast of a Reuters poll of economists put annual economic growth at 4.7%. India's economy had grown at an over six-year low of 4.5% in the previous quarter.

But analysts caution that growth would be muted this current quarter due to the downside risks to global growth as a result of the coronavirus epidemic, the full effects of which are still uncertain and unfolding. Goldman Sachs has cut its growth forecast to 4.9% for the March quarter from earlier estimate of 5.4%.

The government had estimated economic growth in the current fiscal year ending in March would be 5%, the lowest for 11 years. And the government only targeted a slight recovery in growth to 6% for 2020/21.

Separately, data released today showed India's infrastructure output grew 2.2% in January from a year earlier. During April-January, output rose 0.6% from the year-ago period, according to the data.

Infrastructure output, which comprises eight sectors such as coal, crude oil and electricity, accounts for nearly 40% of the country's industrial output.