New Delhi, February 28: India’s Gross Domestic Product (GDP) in October- December 2019 stands at 4.7 per cent (Q3 of FY20) as per the data declared by National Statistical Office (NSO) on Friday. The declared GDP number has recorded a marginal improvement of 0.2 per cent as the GDP number stood at 4.5 per cent in the last quarter. The numbers announced by the government are in consonance with the expectations of many that were doing rounds from a very long time as many economists and experts have expected the GDP number to be roughly around 5 per cent.
As per the data, the GDP at Constant (2011-12) Prices in Q3 of 2019-20 is estimated at Rs 36.65 lakh crore, as against Rs 35.00 lakh crore in Q3 of 2018-19, showing a growth of 4.7 per cent. The country’s gross domestic product in Q2 of FY20 stood at 4.5 per cent, which was one of the lowest in the last 6 years. However, in the same quarter last year (Q2 of FY19), the GDP number stood at 6.8 per cent. The growth in GDP during 2019-20 is estimated at 5.0 per cent as compared to 6.1 per cent in 2018-19.
However, another data released by the government on Friday showed India's infrastructure output grew at 2.2 per cent in January. During April-January, output rose 0.6 per cent in comparison to the same period last year. Infrastructure output, which comprises eight sectors such as coal, crude oil and electricity, constitutes for nearly 40 per cent of the country's industrial output.
Amongst all eight core industries, coal production, steel production, cement production and electricity generation witnessed a positive growth in comparison to the same period last year by 8.0, 2.2, 5.0, and 2.8 per cent respectively
Many economists are worried about the consequences of widespread coronavirus globally and also predicting a substantial loss to India. Indian markets are already affected by the outbreak of this virus.