Nov 19, 2019
India's Gross Domestic Product (GDP) growth slipped further to 5% YoY in Q1: 2019-20, regardless of the monetary easing and the measures announced so far by the government to support the economy. The six-year low growth of 5%, was primarily driven by weaker growth in private consumption and manufacturing. Given the indications witnessed by the economy in the past few months, the growth in GDP was expected to be slow. However, it is far below the market estimates of 5.7% YoY. (Reuters poll). The Reserve Bank earlier in its August policy, marginally lowered the GDP growth projection for 2019-20 to 6.9% from 7% projected in June previously.