Indian Economy

India’s economic growth pace to be relatively slower in April-June: official

Labourers load sacks of grocery items onto a supply truck at a wholesale market in Kolkata, India, October 12, 2018. REUTERS/Rupak De… RUPAK DE CHOWDHURI May 31, 2019 06:56pm IST

NEW DELHI – India’s April-June economic growth rate could be “relatively slower”, Finance Secretary Subhash Chandra Garg said, after Asia’s third largest economy recorded the slowest pace of GDP growth in 17 quarters for the first quarter of 2019.

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Garg said that India’s growth rate, which has been hit due to weak consumption demand and private investment, will start turning around from the July-September quarter with favourable interest rates and an improvement in liquidity.

India’s economy grew at a much-lower-than-expected 5.8% in the January-March period, falling behind China’s pace for the first time in nearly two years, data showed.

Reuters

31/05/2019

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