The gross domestic product or GDP in the July-September quarter of the current fiscal (2018-19) grew by 7.1 percent, as per the data released Friday, by the Central Statistics Office (CSO). This shows a decline of 1.1% points compared to the period between April 30 & June 30.
The Indian economy grew at 6.9% in the gross value added terms for the July-September quarter, which is also lower than the 8% gross value added in the previous quarter. However, the RBI expects a 7.4% GDP growth for the whole year.
Gross domestic product growth between April & June 2017 was extraordinarily low at 5.6% in expectation of the disruption from GST, which was to be implemented in July 2017. This led to a rise in growth in first quarter 2019 to 8.2%, which makes the 7.1% rate look low.