India’s economic growth slowed sharply in the three months to December, preliminary estimates from the statistics ministry showed Monday.
Gross domestic product grew 5.4 percent year-on-year following an 8.5 percent increase in the previous three months, which was revised from 8.4 percent. Economists had forecast 6.0 percent growth.
In the same quarter a year ago, the economy expanded 0.7 percent.
The April quarter growth was revised to 20.3 percent from 20.1 percent.
The growth estimate for the fiscal year 2021-22 was revised down to 8.9 percent from 9.2 percent announced on December 31.
The Indian economy shrank 6.6 percent in the the fiscal year ended March 31, 2021.
The government had earlier projected GDP expansion of 8-8.5 percent for fiscal 2023.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
