India GDP growth slows to 3.1% in Q4 as Covid-19 lockdown hits economy

In the services sector, growth in the hotels and financial services sectors fell to 2.6 per cent and 2.4 per cent in the fourth quarter

Amid a recessionary outlook for the current fiscal year, economic growth fell to 3.1 per cent — a low not seen in more than 17 years — in the fourth quarter of 2019-20, with private investment and manufacturing hit hard even as there was the Covid-19 lockdown for only few days in March.
 
This pulled down gross domestic product (GDP) growth to an 11-year low of 4.2 per cent in 2019-20. This was lower than the government projection of 5 per cent in both first and second advance estimates.
 
Growth had stood at 6.1 per cent in the