GDP growth slips to five-year low on slowdown in investment, manufacturing

Govt blames NBFC crisis for the slowdown

India’s economic growth fell to 5.8 per cent in the January-March period of 2018-19, the lowest in 20 quarters, due to a sharp slowdown in investment and manufacturing growth as well as a contraction in agricultural production. This pulled down the gross domestic product (GDP) expansion to 6.8 per cent in FY19, the slowest in the first stint of the Modi government. The economy’s revival will be a key challenge for the new finance minister, Nirmala Sitharaman. 

Economic growth in FY19 was much below the government’s own projections of 7.2 per cent in the first advance estimates and 7 per