Sumit Awasthi's take on slow GDP growth and merger of PSU banks

30 Aug 2019 09:00 PM

Sumit Awasthi's take on slow GDP growth and merger of PSU banks

Updated 30 Aug 2019 09:00 PM

Listen to ABP News anchor Swumit Awasthi's take on India's slow GDP growth and mega merger of PSU banks. 
The Gross Domestic Product (GDP) of India, Asia's third-largest economy, slumped by larger than expected 5 per cent in April-June, the slowest pace since January-March 2013.
The growth stood at 5.8 per cent in January-March of 2019 and 8 pe cent of April-June 2018, according to official data released on Friday.  The Gross Value Added (GVA) growth in the manufacturing sector tumbled to 0.6 per cent in the first quarter of this fiscal from 12.1 per cent expansion a year ago.
Similarly, farm sector GVA growth remained subdued at 2 per cent as compared to 5.1 per cent in the corresponding period of the previous fiscal.
Construction sector GVA growth too slowed to 5.7 per cent from 9.6 per cent earlier.
However, mining sector growth climbed to 2.7 per cent from 0.4 per cent a year ago.

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