New Delhi: The sluggish economy has not received any relief even in the third quarter. The GDP growth rate in the third quarter of the current financial year has been 4%. The Finance Ministry has taken several measures to bring the economy back on track, but despite all efforts, the Indian economy is not growing.
The growth rate is at a decade low. There is a slowdown in demand. Retail inflation is at the peak of seven years. The unemployment rate is at a four-decade high. The stock market continues to decline. Investors are reluctant to invest. There is negative news for the economy from all sides.
In the second quarter of the current financial year i.e. July-September quarter, the GDP growth rate fell to 4.5 percent. This is the slowest growth rate of Indian economy in last 26 quarters i.e. 6 and half years. It was 7 percent a year ago, compared to 5 percent in the previous quarter.
In the third quarter (October-December), Japan’s financial services provider Nomura believed that the pace of growth would slow further and could come down to 4.3 per cent. Nomura believes that there will be a slight improvement in GDP growth rate in the first quarter of 2020 (last quarter of FY 2019-20) and may remain at 4.7 percent.
