India’s gross domestic product (GDP) grew 6.3 percent in the second quarter (July-September) of the current fiscal year, contracting from 8.4 percent in the corresponding period of the previous fiscal year, according to data released by the National Statistical Organisation (NSO) on Thursday, December 1.
The contraction was sharper compared to the 13.5 percent GDP growth recorded in the first quarter (April-June) of the current fiscal year, the data showed.
Significantly, the core sector comprising eight industrial sectors recorded a marginal growth of 0.1 percent in October this year, the lowest in the past 20 months, according to NSO data.
Among the core sector industries, coal recorded a growth of 3.6 percent and steel at four percent and electricity 0.4 percent in October this year, while crude oil production registered a negative growth of -2.2 percent, natural gas -4.2 percent, refinery products -3.1 percent, and cement -4.3 percent.