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GDP seen dropping to 5% in 2019-20: Govt data

Wednesday, January 8, 2020, 8:23 AM

The Indian economy is estimated to grow at 5% in 2019-20 as against 6.8% in the previous fiscal, according to government data. The decline has been mainly on account of deceleration in manufacturing sector growth, which is expected to come down to 2% in 2019-20 from 6.2% in the year-ago fiscal, as per the first advanced estimates of the national income released by NSO.
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Govt likely to cut spending by Rs 2 lakh crore in current fiscal: Report

Wednesday, January 8, 2020, 8:20 AM

India's government is likely to cut spending for the current fiscal year by as much as Rs 2 lakh-crore as it faces one of the biggest tax shortfalls in recent years, three government sources said. Asia's third-largest economy, which is growing at its slowest pace in over six years because of lack of private investment, could be hurt further if the government cuts spending.
 
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India predicts slower 5% growth, likely prompting budget stimulus

Tuesday, January 7, 2020, 8:22 PM

India forecast 5% growth for the current financial year, the slowest pace in 11-years, which will likely prompt the finance minister to opt for extra fiscal stimulus when she presents the annual budget next month. Finance Minister Nirmala Sitharaman last week unveiled a plan to invest 102-trillion-rupees in infrastructure over the next five-years in a bid to make India a $5 trillion-economy by 2025.