Q1 GDP growth slips to 6.7%, misses projection; RBI says govt expenditure, agriculture likely cause

Bhubaneswar, Odisha: “For the first quarter this year, the Reserve Bank’s projection was 7.1%. But the actual number which has been given by the National Statistical Office is 6.7%. Now, 6.7% would give an impression that it is lower than 7.1%. I think in all the sectors, the growth is 7% plus in the first quarter. Two aspects have slightly pulled it down, one is government expenditure, which is both central government and state government expenditure. The other thing which was slightly lower was agriculture, which grew at about 2% or so,” RBI Governor Shaktikanta Das said.