Jan-March expansion at 40 quarter low of 3.1%, 2019-20 GDP growth at 11-year low of 4.2%
印度1- 3月经济增速为3.1%，为40个季度来新低，2019- 2020财年（2019年4月至2020年3月）GDP增速为4.2%，为11年来新低
NEW DELHI: The country’s economic growth in the January-March quarter of 2019-20 expanded at its slowest pace in 40 quarters at 3.1%, dragged down by the manufacturing and construction sectors and some impact of the national lockdown in late March. Only the farm sector and go nment spending stayed firm.
Data released by the National Statistical Office (NSO) on Friday also showed overall GDP growth in 2019-20 slowing to an 11-year low of 4.2%, lower than the earlier estimate of 5%. Several major economies which had imposed lockdowns earlier have witnessed a contraction in their January-March quarter growth while a handful of countries led by India have managed to post expansion during the period. The NSO said that both the quarterly as well as annual GDP growth numbers are likely to undergo revision as data flow from “economic entities had been impacted.”
印度国家统计局周五发布的数据还显示，在2019- 2020财年，GDP增速放缓至4.2%，为11年来低点，低于此前5%的预期。早些时候实行封城的几个主要经济体1 - 3月份的经济增长出现了萎缩，而以印度为首的少数几个国家在这段时间实现了增长。国家统计局表示，由于“经济实体”的数据受到影响，季度和年度GDP增长数据可能进行修正。
Economists say the lockdown, which has crippled economic activity, will have an impact on growth in the coming quarters with several research houses, investment banks and brokerages estimating a sharp contraction.
Several key sectors of the economy such as the services sector, which accounts for nearly 60% of the economy, have suffered due to the lockdown and led to large job losses. The go nment has unveiled a relief package to nurse growth but experts say more needs to be done to help revive growth.
The Reserve Bank of India (RBI) has also cut rates sharply since the lockdown and has unveiled massive liquidity injection to help the economy gather momentum but it has estimated growth to contract in 2020-21 due to the impact of the lockdown in the country as well as across the globe. The IMF expects India and China to be the only economies to register growth while other economies around the globe are expected to contract sharply, a view not shared by several other economists who expect the Indian economy to contract.
The manufacturing, construction and services sectors contracted in the March quarter which economists attributed to the impact of the lockdown. The trade, hotel and transport and manufacturing sector saw growth drop to the lowest level since 2011-12 in Q4 FY20, according to Care Ratings.
The farm sector posted a robust near 6% growth in the March quarter while overall expansion was at 4% for 2019-20.The sector is expected to provide some support to overall growth in the quarters ahead as farm production is expected to remain strong.
Economists said they estimate a further deterioration in the health of the economy in the months ahead as the impact of the lockdown becomes more pronounced and some said the prospects for Asia’s third largest economy appear to be grim. The chief economic adviser in the finance ministry Krishnamurthy Subramanian expects a V-shaped recovery once the pandemic gets over, relying his projection one the recovery that the economy staged post the Spanish flu in 1918.
“The further extension of the lockdown till the end of May 2020 amid graded relaxations, and the expectation of substantial delays in getting the full supply chain operational, especially given the likelihood of enduring labour mismatches following the return of migrant workers to their home states, would further dampen economic activity,” said Aditi Nayar, principal economist at ratings agency ICRA.
译文来源：三泰虎 http://www.santaihu.com/p/49998.html 译者：Jessica.Wu
A big country like India cannot afford to have uneducated pm. Bhakt and bjp will destroy this country.
I just hope India does not become Somalia
To save our country, throw out these illiterate Morons ASAP. This jumla party is the real anti national to bring down a growing economy to its feet.
At this rate, we will soon become a $5 trillion economy.
Modi will eat India. We should kick out this illiterate Govt. Otherwise that's it. BHAKTS jaag jao.
Amar No Akbar No Anthony
Isn't Feku ChaCha more dangerous to India than Pakistan & China .......he's cancer destroying India from within
This is Pre-Corona. Post Corona it will be in Negative.
Bhakts reasoning: This is all because of the lockdown from 24th - 31st March. Otherwise the GDP for 2019-20 would have been in double digits.
This is what happens when u elect uneducated PM.. who sells tea
India is sinking.
It is interesting to see how the comments logged on articles during early or very late hours are largely critical of Modi but those logged during the middle of the day are highly supporting. It is almost as if the supportive comments are logged during working hours by workers.
I am surprised that we didnt hit negative numbers. The GDP growth looks like it has been adjusted.
There was only 7 days lockdown in March - the fall can not be blamed to only Corona.
This has nothing to do with corona. It happened because uneducated north indians selected and elected an uneducated pm.
global recession is the result of pandemic
0% is coming and then negative
Then mass unemployment and starvation
4.2% is an Overestimation, India under Uneducated PM is growing Negativaly. 4.2 % is after inflating figures, current growth rate may be near 1-2% at its maximum.
we may expect much more worst in future. Normal life is yet to return. business has to survive. please save us
Humanity comes first
Fudged data, our GDP is in negative figures by wrong decisions/policies by mr. feku. Our economy was already facing slowdown corono has send it in coma.
Economy slow down is a Global factor due to Corona Virus
We need elections right now, if we are to have any hope of saving the economy.
this is all because of Pakistan, nehru, JNU,congress and yes Mamta didi,
We are going through most testing period after independence for the first time