India’s GDP slows to 5.8 pct in March quarter

India’s economic growth rate stood at 5.8 percent during the period from January to March officials said Friday.

The figures released by India’s federal Central Statistics Office (CSO) showed gross domestic product (GDP) growth in the January to March (fourth quarter – Q4) has slipped to 5.8 percent.

“GDP at Constant (2011-12) Prices in Q4 of 2018-19 is showing a growth rate of 5.8 percent,” reads a statement issued by ministry of statistics and programme implementation.

The previous quarter October to December (third quarter – Q3) showed growth of 6.6 percent.

The Central Statistics Office (CSO) attributed the slump to poor performance in agriculture and manufacturing sectors.

Official data also revealed that GDP growth during 2018-19 fiscal stood at 6.8 percent, lower than 7.2 percent in the previous financial year.

The growth in GDP was slowest since 2014-15. The previous low was 6.4 percent in 2013-14.