GDP forecast wide off projection

New Delhi: The GDP growth projection made in Economic Survey 2018-19 was wide off the mark, as the expansion is estimated at only 5 per cent during the current fiscal as against 7 per cent projected earlier. It is for the second consecutive time that NSO's GDP estimate is significantly lower than the projection made in the survey prepared by the finance ministry.

As per the National Statistical Office (NSO), economic growth is estimated to touch an 11-year low of 5 per cent during 2019-20, mainly due to slowdown in the agriculture and manufacturing sectors. The Economic Survey 2018-19, which was tabled in Parliament in July 2019, had projected growth at 7 per cent for the current fiscal ending March 2020.