Economy appears to have slowed down in FY19, says Finance Ministry report

On a positive note, the current account deficit as ratio to gross domestic product is set to fall in January-March quarter of 2018-19

Economic growth appears to have slowed slightly in fiscal year 2018-19 (FY19), a finance ministry report has said.

A declining growth of private consumption, weak increase in fixed investment and muted exports are some reasons for the slowdown, said the report, titled ‘Monthly Economic Report' for March 2019. It was released by the Department of Economic Affairs on Wednesday.

“The Indian economy is the fastest-growing major economy and is projected to grow faster in the coming years. However, India's economy appears to have slowed down slightly in 2018-19,” the report stated.

“On the supply side, the challenge is to reverse