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GDP growth slips

Minister of State (Independent Charge) for Statistics and Programme Implementation, Rao Inderjit Singh, said in a written reply to a question in Lok Sabha that due to the low growth in manufacturing and construction, the growth of India’s gross domestic product (GDP) has declined. He further added that in order to tame the situation, the government has taken various measures including introduction of Insolvency and Bankruptcy Code (IBC) in 2016, Goods and Services Tax for improving ease of doing business and Make-in-India to increase indigenous capacity.

However, according to the forecasts of think tanks like The National Statistics Office, India’s GDP growth is likely to slip to an 11-year low of 5% in FY20.