India’s GDP growth slips to 4.7%

New Delhi, Feb. 28 (PTI): India’s economic growth slowed to 4.7% in October-December 2019, according to official data released on Friday.

The Gross Domestic Product (GDP) growth was registered at 5.6% in the corresponding quarter of 2018-19, as per the data released by the National Statistical Office (NSO).

During the nine-month period (April-December 2019), the Indian economy grew 5.1% as against 6.3% in the same period a year ago.

The GDP growth rate for the first quarter of 2019-20 was revised to 5.6%, and for the second quarter to 5.1%.

The NSO has pegged economic growth at 5% in 2019-20 in its second advance estimates released on Friday, the same as its estimates last month.

The Reserve Bank had also estimated 5% GDP growth for 2019-20. China’s economic growth was 6% in October-December 2019, which was the weakest expansion in over 27 years. China’s economic growth was 6.1% in 2019 (calendar year), the slowest in about three decades.