Lower than expected

Disappointing GDP print buries some good news as well

The Union Ministry of Statistics and Programme Implementation on Thursday released the Second Advance Estimates of gross domestic product (GDP) for the ongoing fiscal year of 2018-19, which incorporate the quarterly estimates for the third quarter of the financial year, namely the quarter between October and December 2018. These figures came as a negative surprise, and the estimate for GDP growth in 2018-19 had to be decreased from the previous 7.2 per cent to 7 per cent for the full year. GDP growth was clearly decelerating over the course of the financial year. The third quarter saw growth of only