November 29, 2019 / 12:15 PM / 12 days ago

India's economic growth slows to 4.5% in July-Sept

NEW DELHI, Nov 29 (Reuters) - India’s economic growth cooled to 4.5 % in the July-September quarter from the same period a year earlier, the weakest pace in more than six years, as consumer demand and private investment weakened and a global slowdown hit exports, government data showed on Friday.

Economists polled by Reuters had expected growth to slow to 4.7% for July-September from a year earlier, compared with a 5.0% rise the previous quarter.

Prime Minister Narendra Modi’s government has taken several steps to boost investment and bolster economic growth, including cutting corporate taxes in September, while the central bank has cut interest rate five times this year. But some surveys show business confidence is at multi-year lows.

Reporting by Manoj Kumar; Editing by Sanjeev Miglani

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