Shocking Modi government on economic front, GDP rate dropped to 5%

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New delhi date. August 30, 2019, Friday

The Modi government has been hit hard on the economic front. The country's growth rate has declined. Growth in the first quarter dropped from 5.8% to 5%. If compared on an annual basis, there is a 3% decrease. The GDP rate for this quarter was 8% a year ago. The decline in the manufacturing sector and the decline in agricultural production in the last quarter had a greater impact on GDP growth.

This is the slowest pace in any quarter of the Modi government. About 7 years ago, GDP figures reached this level in a quarter of the UPA government. It is noteworthy that the RBI has projected India's GDP to 6.9% for the financial year 2019-20. For the first financial year, GDP was projected to be 7%.

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