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India's second quarter GDP slips to 7.1 per cent

The Gross Domestic Product (GDP) was 7.1 per cent in 2016-17 and 8 per cent in the preceding year. It was 7.5 per cent in 2014-15. Photograph:( Reuters )

WION Web Team New Delhi, Delhi, India Nov 30, 2018, 05.48 PM (IST)

India recorded its second quarter(Q2) GDP at 7.1 per cent which was slower than the last quarter.

The latest figures show it was up from 6.3 per cent a year ago, however it was slower than the first quarter which recorded 8.2 per cent growth.

The growth rate of eight infrastructure sectors slowed down to 4.8 per cent in October due to contraction in the production of crude oil, natural gas and fertiliser.
 
Eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had grown by 5 per cent in October 2017.

Fertiliser production dropped sharply by 11.5 per cent, crude oil by 5 per cent and natural gas by 0.9 per cent in October over the year-ago month, according to the data released by the commerce and industry ministry on Friday. 

The production of coal, cement and electricity, on the other hand, expanded in the month under review.
 
During April-October 2018-19, the eight sectors recorded a growth rate of 5.4 per cent against 3.5 per cent in the same period last year. 

The combined index of eight core industries stood at 134.8 in October 2018, which was 4.8 per cent higher as compared to the index of October 2017. The cumulative growth during April to October 2018-19 was 5.4 per cent.

India's $2.6 trillion economy, Asia's third largest, grew 6.3 per cent in the July-September quarter of 2017, the data released by the statistics ministry showed.

India had recored 7.9 per cent mark in the fourth quarter FY16, this time, however, it was lower than expected.