Economy grew 4.5 percent in December quarter
NEW DELHI (Reuters) - India's economy grew at a worse-than-expected 4.5 percent in the quarter ending December 31, hurt by a slowdown in agriculture, mining and manufacturing, government data showed on Thursday.
Analysts polled by Reuters had forecast growth of 5 percent. The country's economy grew at a lower-than-expected 5.3 percent in the quarter ending in September.
The Indian economy has lost momentum in recent years. Preliminary estimates earlier this month showed the economy is on track to grow just 5 percent in the current fiscal year to March.
The manufacturing sector grew an annual 2.5 percent during the quarter while farm output rose just 1.1 percent, the data showed. Mining fell by 1.4 percent.
(Reporting by Arup Roychoudhury; Editing by Tony Munroe)
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Government officials painted an upbeat picture for the economy on Thursday as it struggles to emerge from the longest spell of sub-par growth in decades and promised to tighten up risk management at the country's dominant state banks. Full Article