India’s gross domestic product (GDP) growth for the December quarter has been estimated by the Central Statistical Organisation at 5.3% compared with 8.9% growth achieved in same quarter a year ago. The figure is also lower compared to 7.6% growth achieved in September quarter and around 6% growth being expected by most of the economists.
This is a pathetic number as the office of the PM and Finance Ministry kept on giving voval promises of higher GDP growth and to some extent backed by the RBI Governor.
The BSE Sensex crashed by 250 points as soon as the data was out.