Slow GDP growth due to lower govt spending, MCC, says RBI Governor Das

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Slow GDP growth due to lower govt spending, MCC, says RBI Governor Das - Business Standard

Quick Summary:

The slowing of India's economic growth to a 15-month low of 6.7 per cent in the April-June quarter was due to "lower" government spending in the wake of the enforcement of the model code of conduct for the recent Lok Sabha polls, RBI Governor Shaktikanta Das said here on Saturday.

However, the first advance estimation data released by the National Statistical Office showed the growth rate at 6.7 per cent," Das told reporters here.

"The Reserve Bank projected a growth rate of 7.1 per cent for the first quarter.