GDP growth in 2019-20 slows to 11-year low of 4.2%, Jan-Mar growth dips to 3.1%

India's economic growth slipped to 3.1% in the January-March quarter while the GDP growth for 2019-20 slowed to an 11-year low of 4.2%, government data showed on Friday. 

According to data released by the National Statistical Office (NSO), the gross domestic product (GDP) had expanded by 5.7% in the corresponding quarter of 2018-19.

In 2019-20, the Indian economy grew by 4.2% against 6.1% growth rate in 2018-19.

The impact of COVID-19 pandemic which closed almost all non-essential businesses for nearly two months clearly visible on the GDP data. 

As coronavirus cases started to rise in India, the government imposed a nationwide lockdown on March 25. However, the Indian economy had been seeing a downward trend even before the pandemic arrived on its shore. 

India registered a GDP growth of 4.7% in Q3 (October-December) of 2019-20 which was 5.6% a year ago. Releasing the data in February, the NSO in its advance estimates said the GDP growth during 2019-20 would be 5.0% as compared to 6.1% in 2018-19.

Later, the Reserve Bank also pegged the GDP growth for 2019-20 at 5%.