"GDP at Constant (2011-12) Prices in fourth quarter ended in March 2019 showing a growth rate of 5.8 percent... annual growth in 2018-2019 is 6.8 percent", the Government revealed in an official statement.
"Emergence of clarity is what was important, and now narrative in markets will be about the economic policies that will be adopted to revive and stimulate the slowing economy", he said. For five years of the first term of Modi government, Maneka Gandhi led the ministry.
The government is widely expected to deliver some fiscal stimulus while keeping the deficit at manageable levels. "With her previous experience, she will be very well suited and prepared for a role that will probably define the way India evolves into one of the world's biggest economies over the next few decades".
But the latest figures, which show the slowest growth rate in 17 quarters, mean India's growth rate has fallen behind China for the first time in almost two years. On the plus side, the Reserve Bank of India could have leeway to reduce interest rates as inflation remains subdued.
Despite the supposedly "loyalty" and "talent" factors, many in the BJP were stunned by the choice of "inexperienced" Nirmala as finance minister at a time the economy appears to be facing tough challenges.
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Unlike China, India's economic growth has been driven by domestic consumption over the last 15 years and the latest data showed weaker consumer demand.
Navdeep Suri, India's ambassador to the UAE, said ties between the countries have strengthened in recent years. The worry is stagnancy in sectors like manufacturing, mining, and agriculture as unemployment rates reached 6.1 percent previous year.
Economists said growth could slow further in the current quarter, the first of the fiscal year, citing weakening global growth as a factor leading to this decline.
Several indicators - automobile sales, rail freight, petroleum product consumption, domestic air traffic and imports - indicate a slowdown in domestic consumption.
But, it should start to turnaround in the third quarter, he said.