The GDP numbers for Q4FY19 and full FY18 will be released on Friday by the Central Statistics Office (CSO).
The GDP numbers for Q4FY19 and full FY18 will be released on Friday by the Central Statistics Office (CSO). The numbers hold significance since the economy is undergoing a slowdown currently. In the third quarter of fiscal 2019, the GDP growth fell to 6.6 per cent. The economy grew 7.1 per cent in Q2 and 8.2 per cent in the first quarter, logging 7.6 per cent for the first half of FY19. The GDP numbers highlight the overall economic growth of the country over a particular period under review. It is the sum total of the value added of all the companies, sectors and individuals in the economy.
The GDP growth in the fourth quarter of FY19 may moderate to 6.1-5.9 per cent, the SBI Ecowrap said. The slowdown in GDP growth may pull down the growth rate for full FY19 to below 7 per cent, the report also said.
The growth of GDP in FY19 would stand at 6.9 per cent, marginally lower than CSO’s advance estimate of 7 per cent, report by analysts at rating agency India Ratings and Research said. The agency also urged the new government to take short-term measures to tackle the economic slowdown.
The latest survey by analysts at industry body FICCI projects fourth quarter GDP FY19 growth at 6.5 per cent. It’s GDP growth forecast for FY20 stands at 7.1 per cent and the projection for FY21 is at 7.2 per cent.
While Axis Bank project 6.1 per cent GDP growth, HDFC’s estimates are 6.1-6.2 per cent for the quarter ended March FY19.
GDP has direct impact on the common man because it concerns the issues including jobs, personal finance, and investments.