(MC)
India’s gross domestic product (GDP) grew 7.1 percent in July-September, down from 8.2 percent in the previous quarter as high fuel prices, a sliding rupee and relatively weaker rural demand seem to have applied the brakes on the economy. Despite slight deceleration in the second quarter of 2018-19, GDP grew considerably faster than the previous year’s 6.3 percent growth in the same quarter.
Latest national income data put out by the Central Statistics Office (CSO) on November 30, gross value added (GVA) at 2011-12 prices, which is GDP minus taxes, grew 6.9 percent in July-September, slower than the previous quarter’s 8 percent, but faster than the previous year’s 6.1 percent growth in same quarter.
