GDP data for Q3FY20 LIVE: Economy finally looks up after 6 quarters of straight fall, grows at 4.7%

FE Online

After six-months of straight fall, the GDP grew at 4.7% in Q3FY20, the government data released on Friday showed. According to a CNBC poll, the economy was expected to grow at 4.6. per cent in the quarter under review. K Subramanian, Chief Economic Adviser, on Thursday said that the slowdown in the economy that has lasted for 13 quarters is part of a business cycle. Finance Minister Nirmala Sitharaman had recently said that the 'concerted efforts' taken by the government and the RBI have started giving results and the green shoots of recovery are not just visible but also sustainable.  Meanwhile, the S&P BSE Sensex ended the day down by 1,448 points at 38,297 points while the 50 stock Nifty ended the week at 11,219 points losing 414 points as Indian indices followed their global peers. Only one the 30-stocks on the BSE Sensex were trading in the green. Tata Steel, Tech Mahindra were the biggest losers on BSE Sensex.