HindustanTimes Fri,22 Aug 2014

Economy slows further, posts growth of 4.5%

Reuters  New Delhi, February 28, 2013
First Published: 17:34 IST(28/2/2013) | Last Updated: 17:56 IST(28/2/2013)

India's economic slowdown deepened in the October-December quarter, expanding by 4.5% on an annual basis, hurt by a slowdown in agriculture, mining and manufacturing, government data showed on Thursday.


Analysts polled by Reuters had forecast growth of 5%. The country's economy grew at a lower-than-expected 5.3% in the September quarter.

The Indian economy has lost momentum in recent years. Preliminary estimates earlier this month showed the economy is on track to grow just 5% in the current fiscal year to March.

The manufacturing sector grew an annual 2.5% during the December quarter while farm output rose just 1.1%, the data showed. Mining fell by 1.4%.

The Indian economy, the world's tenth biggest, is projected to expand by 5% this fiscal year to March, the lowest figure for a decade.

(With inputs from AFP)

more from Business

SpiceJet under I-T scanner for TDS violations

Low cost airline SpiceJet is under the scanner of Income Tax department for suspected violations of TDS (tax deducted at source) and distribution of Form-16 to its employees, a top CBDT official said on Friday.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved