The country GDP growth rate is at all time low in 6 years at 5% in April to June Quarter. The lower below GDP rate is dragged down because of slowdown in manufacturing sector, finance, farm and real estate sector. Data released by the National Statistics office showed GDP at 5.8% in this quarter session as recorded previously at 8%
Last dip in the GDP was in March quarter of 2012-2013 when ruling party was UPA. Even steps were taken to merge various banks were taken by the Finance Minister yesterday as the steps that could strengthen the GDP in the coming quarter but the latest quarter is 25 quarter low.
According to economist the present situation is leading towards slow period of recession if the right steps not taken we can further dip into recession and this would be not a good sign in front of the global economy as after so much struggle we are emerging and becoming world power and slow growth rate could destroy the sentiments of the countries who are thinking to invest in our country.