GDP growth dips to 7.1 % in Q2

The country’s GDP(gross domestic product) growth slowed down to 7.1 % in the September quarter(2018-19) from 8.2 % in the June quarter, government data showed on Friday. The GDP growth rate was 6.3 percent in the same period last year.

The gross value added(GVA) growth rate for the second quarter was 6.9 %,down from 8% in Q1. Despite the slow GDP growth, the country still remained ahead of China to retain the world’s fastest growing economy tag.

The GVA gives a picture of the state of economic activity from the producers’ side or supply side, as opposed to GDP which gives the picture from the consumers’ side or demand perspective.