Kolkata (West Bengal): Sharp deceleration in manufacturing output and subdued farm sector activity pulled down India's gross domestic product (GDP) growth to over six-year low of 5 per cent in the April-June quarter of 2019-20.
The gross value added (GVA) growth in the manufacturing sector tumbled to 0.6 per cent in the first quarter of this fiscal from 12.1 per cent expansion a year ago.
Speaking on the issue, former finance minister of West Bengal Asim Dasgupta said that the country is witnessing the lowest ever growth rate in the last six years and this is the matter of serious concern.
"We are observing the downward trend in the national economy followed by an increase in unemployment. For the last three years the average rate of growth of food grain production has come down to less than 1.5 per cent," said Dasgupta.
He also went on to say that it's need of the hour to revive our own domestic market.
"There is a demand shortage problem in India and it can be shorted out if the common people receive some money either through enhancement of National Rural Employment Guarantee Scheme supported by a similar programme in urban areas. Poor farmers should be given some land or irrigation facilities so that they get more income out of their land. These will basically increase the purchasing power of the rural poor and also the urban poor," he added.
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