Rajasthan Chief Minister Ashok Gehlot on Saturday attacked the BJP government and asked whether the falling GDP is not an indication that there has been an economic slowdown in the country? He tweeted, "India's GDP growth rate has fallen to 4.5 percent for the second quarter of the current financial year, the lowest in the last 6 years. GVA growth has also come down drastically. '
The Chief Minister asked, 'Such a decline has been seen in the 5th consecutive quarter. If this is not a sign of economic slowdown then what is it? ' Apart from him, Congress General Secretary Priyanka Gandhi Vadra has also attacked the government. She wrote on Twitter, 'Vaada tera vada … two crore jobs every year, double the price of crop, good days will come, there will be make in India, economy will be five trillion … Will any promise be accounted for?'
The gross domestic product (GDP) data released on Friday once again indicated the slowdown in the economy. India's economic growth rate declined to just 4.5 per cent during the July-September, 2019 quarter, which is a six-and-a-half year low. This is the sixth consecutive quarter when sluggishness has been recorded in GDP. Earlier, the GDP growth rate was 4.3 per cent in the January-March 2013 quarter, while it was 7 per cent in the same period a year ago, ie, July-September, 2018 quarter. The growth rate was 5 percent in the first quarter of the current financial year. In the first half (April-September) of FY 2019-20, there has been a 4.8 per cent growth in GDP, compared to 7.5 per cent growth in the same half a year ago.
As per the data released by the National Statistics Office (NSO), the GDP at constant prices (2011-12) for the fiscal year 2019-20 in July-September stood at Rs 35.99 lakh crore as against Rs 34.43 lakh crore in the same period last year. The main reason for the poor GDP figures was the slowdown in manufacturing and agriculture related activities.
