India's GDP growth slips to 4.7% in December quarter
GDP
According to the National Statistical Office (NSO), India's Gross Domestic Product(GDP) slipped to 4.7 per cent in October-December 2019.
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India's GDP was 5.6 per cent in the corresponding quarter of 2018-19.
India's economy grew 5.1 per cent in the nine-month period between April-December 2019 as against 6.3 per cent in the same period a year ago, the NSO informed.
The NSO pegged economic growth at 5 per cent in 2019-20 on Friday. India's Reserve Bank had pegged India's GDP growth at 5 per cent for 2019-20.
The Controller General of Accounts (CGA) informed that India's fiscal deficit touched 128.5 per cent of the whole year budget target at January-end, the government had targeted to restrict the fiscal deficit at Rs 7,66,846 crore during the year ending March 31, 2020.
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In the Budget, finance ministerNirmalal Sitharaman had raised fiscal deficit target to 3.8 per cent of the GDP from 3.3 per cent earlier for 2019-20.