New Delhi: The country's gross domestic product (GDP) growth rate is expected to come down to five percent in the current financial year 2019-20. It has been estimated in government data. In the previous financial year 2018-19, the economic growth rate was 6.8 percent.
The National Statistics Office (CSO) released the first advance estimate of national income on Tuesday. It says that the main reason for the decline in economic growth rate is the growth rate of manufacturing sector.
In the current financial year, the growth rate of manufacturing sector is expected to come down to two percent. In the previous financial year, it was 6.2 percent. According to advance estimates, the growth rate of sectors like agriculture, construction and electricity, gas and water supply will also come down. At the same time, there is a slight improvement in the growth rate in areas like mining, public administration and defense.
