The government revised the GDP growth estimates for 2018-19 and 2017-18 in line with the revision policy of the National Statistical Office. According to the revised estimates, GDP growth for 2018-19 has been brought down to 6.1% from 6.8%, while the data for 2017-18 was revised to 7% from 7.2%.
Nominal GDP (without stripping impact of inflation) or GDP at current prices for the year 2018-19 is estimated as Rs.189.7 lakh crore against Rs.171 lakh crore for the year 2017-18, showing a growth of 11% during 2018-19 as compared to 11% during 2017-18.
The NSO expects the economy to grow by 5% in 2019-20, its slowest pace in 11 years.
The Economic Survey for 2019-20 is optimistic about growth rebounding in 2020-21 with GDP growth forecast to grow by 6% to 6.5%.
The country’s economy is in the throes of a sharp slowdown and all eyes are on the Budget for measures to revive the growth slowdown. The government has unveiled a series of measures since last year when the slowdown became more pronounced and experts expect the impact of these steps to show results in the months ahead.
Nominal GDP (without stripping impact of inflation) or GDP at current prices for the year 2018-19 is estimated as Rs.189.7 lakh crore against Rs.171 lakh crore for the year 2017-18, showing a growth of 11% during 2018-19 as compared to 11% during 2017-18.
The NSO expects the economy to grow by 5% in 2019-20, its slowest pace in 11 years.
The Economic Survey for 2019-20 is optimistic about growth rebounding in 2020-21 with GDP growth forecast to grow by 6% to 6.5%.
The country’s economy is in the throes of a sharp slowdown and all eyes are on the Budget for measures to revive the growth slowdown. The government has unveiled a series of measures since last year when the slowdown became more pronounced and experts expect the impact of these steps to show results in the months ahead.
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