Q1 GDP growth likely to be weaker at 5.5%, says RBI annual report

The government, cognizant of the slowdown, has announced a slew of measures for improving the sentiment in financial markets and prepping up domestic demand in the past two weeks

Abhishek Waghmare New Delhi
Q1 GDP growth likely to be weaker at 5.5%, says RBI annual report

An internal assessment of the Reserve Bank of India (RBI) presented in its Annual Report broadly indicates that real growth in gross domestic product (GDP) in the first quarter of 2019-20 would be lower than that achieved in the previous quarter (Q4 FY19). The estimate for real GDP growth for Q1 FY20 is near 5.5 per cent, people with direct knowledge of the matter told Business Standard. The National Statistics Office (NSO) will present the government’s official estimate of GDP growth for Q1 FY20 on Friday. 
The RBI, for the first time, presented an index, known as Coincident Economic Indicator for India (CEII) in its annual report for 2018-19 published on Thursday. The report shows that growth in CEII dropped to its lowest in nearly four years in the first quarter of 2019-20. 
This indicates that the economy in Q1 grew slower than the last quarter of 2018-19. The latter had recorded a 20-quarter low economic growth of 5.8 per cent.

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First Published: Aug 30 2019 | 1:26 AM IST

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