Bad news in store for the ruling Congress party ahead of looming elections. PHOTO: ONLINE
The 4.7% year-on-year expansion in the three months to December undershot market forecasts of around 5% growth and reflected high interest rates that have crimped investment and consumer spending.
It was India's fifth straight quarter of below 5% expansion.
Growth has crumbled from nearly double-digit expansion just two years ago; level economists say India must reach again to generate enough jobs for its vast young population.
Earlier this month, the government forecast the economy would grow by 4.9% in this fiscal year to March, after expanding by a decade low of 4.5% last year.
COMMENTS (6)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ
1714129906-0/Clint-Eastwood-(1)1714129906-0-270x192.webp)
Lets hope India perform better. We Pakistanis have been there, so we can feel the pain an ordinary Indian will feel. Rich ones don't care as whole world is open to them. . Pakistan achieved 5% recently after five years of approx 3.5%. We also suffered from world's biggest floods during that time. Countries that developed over long term did that in blocks (e.g. ASEAN, Europe..). South Asia needs to co-operate with eachother to grow as a whole.
bye bye congress. we don't need you. and you don't deserve another chance, whether its raul gandhi or diggy
we should learn from pakistan..... in eight months they did what congress couldn't do in 2012 and 2013 ....2 full years.......( those who din get the sarcasm......salute :) )
@Pakistani, This is very poor thanks to our current lame duck government. Can't wait for CONgress to get out of office.
this is normal or we can say good rates as compare to world for Country which is in election year!