India: India’s growth rate slows, courtesy of the Reserve Bank

India’s GDP growth drops to 6.9 from 8.4 per cent over last fiscal year. The Reserve Bank of India says it will lower interest rates unless the government reduces the deficit and begins economic reforms.

Wednesday, February 08, 2012

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New Delhi – India’s GDP growth will slow to 6.9 per cent, the weakest since 2009, the country’s Central Statistical Office said. This far lower than the 8.4 per cent of 2010-11. Manufacturing and farming are the main areas of weakness. The former is expected to grown by 3.9 per cent against 7.6 per cent in 2010-11. Farm output may gain 2.5 per cent.

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Source: Asia News

Filed under geopolitics, reserve bank, indiaindias growth rate slows courtesy

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India: India’s growth rate slows, courtesy of the Reserve Bank

India’s GDP growth drops to 6.9 from 8.4 per cent over last fiscal year. The Reserve Bank of India says it will lower interest rates unless the government reduces the deficit and begins economic reforms.

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