Economic growth slows to 8.4 pc in Q3
India's economic growth has slowed to 8.4 pc in the third quarter on lower farm and industrial output from the same period a year ago.business Updated: Feb 29, 2008 13:45 IST
India's economic growth slowed to 8.4 per cent in the third quarter on lower farm and industrial output from the same period a year ago, official data showed on Friday.
The data showed that the economy had expanded almost in line with a forecast of 8.7 per cent for the year ending March. But the pace is well off the 9.6 per cent growth reported in the previous year.
The slowdown has been attributed to aggressive monetary tightening to tame prices and a 12 per cent gain for the rupee against the dollar in the past year that has dented export earnings for Asia's third biggest economy.