Govt pegs FY19 GDP growth at 7.2%; estimate lower than RBI prediction

Nominal GDP though is expected to grow at a healthy 12.3 per cent in FY19, against the Union Budget's assumption of 11.5 per cent

The economy is likely to grow at a slower pace in the current financial year (2018-19, or FY19) than what was previously expected despite a significant rise in investment and manufacturing activities, showed the latest data released by the Central Statistics Office (CSO) on Monday. 

Gross domestic product (GDP) is pegged to grow at 7.2 per cent in FY19, lower than the Reserve Bank of India’s (RBI’s) estimate of 7.4 per cent and the finance ministry’s projection of 7.5 per cent. However, it is higher than last year, when the economy grew at 6.7 per cent.

Based on the CSO’s