Fundamentals of Indian economy strong; Q3 GDP may pick up: Govt

News

The government has said, the fundamentals of Indian Economy is strong and the GDP growth rate is expected to pick up from the third quarter of Financial Year 2019-20.

While interacting with media in New Delhi on GDP numbers released today, Chief Economic Adviser K Subramanian said, IMF has projected India's GDP growth at 6.1 per cent in 2019-20 and 7 per cent in Financial Year 2020-21 in it's recently released report on World Economic Outlook.

Economic Affairs Secretary Atanu Chakraborty said, mega steps of reducing government stake in PSUs below 51 per cent has not happened anywhere. He further said, Globally India is the fastest growing economy and expects an increase in investment, consumption and sentiment.

According to official data released today, India's economic growth slipped to 4.5 per cent in the July-September period of this fiscal. The previous low was recorded at 4.3 per cent in the January to March period of 2012-13. The Gross Domestic Product (GDP) growth was registered at 7 per cent in the second quarter of 2018-19. (AIR NEWS)

11 Days ago