The government will release data on GDP or gross domestic product for the second quarter of current financial year on Friday at 5.30pm.
As many economists and financial institutions have lowered their growth projections for the September quarter as well as the year ending March 2020, atmosphere in the Finance Minister’s office is little tensed. Many expect India's GDP growth rate to decline further to below 5 per cent amid consumption slowdown and it will lead to the loss of thousands of jobs. Economic growth had come in at 5 per in the April-June period.
The government has announced a slew of measures in the past months to spur investments and revive growth, including withdrawal of higher taxes on foreign investors, reduction in corporate taxes, a mega merger of state-run banks, a special window for the real estate sector and a massive disinvestment plan.