Ahead of 2019 polls, GDP pitches lowest growth rate in three years; drops to 7.1 percent in Q2

The country's GDP (Gross Domestic Product) has seen a backward shift by dropping to 7.1 percent in the July-September quarter from 8.2 percent in the previous quarter. According to government's data released on Friday, a sharp decline in manufacturing, agriculture, and mining activities catapulted a setback in the current GDP growth.

Even though the GDP has shown a lowest growth rate in three years, India is still remains the fastest growing economy in the world. China is growing at a speed of 6.5 percent.

"This quarter also faced the challenge of higher oil prices resulting in much higher import bill and the weakening of the rupee. The economy is on track to maintain a high growth rate in the current global environment," the finance ministry said in a statement. Growth has shown a rise over the past year; the economy had grown 6.3 per cent in the corresponding quarter last year.

"GDP growth for second quarter 2018-19 at 7.1 per cent seems disappointing. Manufacturing growth at 7.4 per cent and agriculture growth at 3.8% is steady. Construction at 6.8 per cent and mining at -2.4 per cent reflect monsoon months deceleration," Garg tweeted.