GDP growth slows to 6.6% in December quarter

India's Gross Domestic Product (GDP) slowed down to 6.6 per cent in December quarter as compared to 7.1% in September quarter. According to a poll by news agency Reuters, the median forecast from more than 55 economists polled on February 19-25 was for a GDP growth of 6.9 per cent.

According to data released by the government, The GDP forecast for 2018-19 has also been revised to seven per cent from 7.2 per cent. 

The Reserve Bank of India, however, has estimated GDP growth at 7.4 per cent in 2018-19. A slowdown in GDP growth momentum supported the central bank's sudden dovish turn in early February when it cut rates and changed its policy stance to "neutral" to boost expansion after a sharp fall in inflation.

"Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2018-19 is likely to attain a level of Rs 141.00 lakh crore, as against the First Revised Estimate of GDP for the year 2017-18 of Rs 131.80 lakh crore, released on 31st January 2019. The growth in GDP during 2018-19 is estimated at 7.0 per cent as compared to the growth rate of 7.2 per cent in 2017-18," CSO said in a statement.