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India's GDP growth dips to 3.1% in Jan-Mar 2020; 11-year-low of 4.2% in 2019-20

06:44 PM May 29, 2020 | PTI |

New Delhi: India’s economic growth slipped to 3.1 per cent in the January-March quarter of 2019-20 showing impact of COVID-19 pandemic.

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The gross domestic product (GDP) had expanded by 5.7 per cent in the corresponding quarter of 2018-19, according to data released by the National Statistical Office (NSO) on Friday.

In 2019-20, the Indian economy grew by 4.2 per cent against 6.1 per cent expansion in 2018-19.

The government imposed lockdown on March 25 to combat COVID-19. However, slowing down of business activities across the world in January-March impacted the Indian economy.

The Reserve Bank had pegged the GDP growth for 2019-20 at 5 per cent as projected by the NSO in its first and second advance estimates released earlier this year in January and February respectively.

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China’s economy shrank by 6.8 per cent in January-March 2020 due to the impact of coronavirus infection.

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