Friday, May 24th, 2013
India’s economy grew 5.3 per cent in September quarter, stuck at 3-year low
THE ASSOCIATED PRESS
MUMBAI, India — India says its economy grew 5.3 per cent in the September quarter, stuck at its lowest levels in three years as New Delhi struggles to enact reforms to kick-start investment and growth.
The number was in line with expectations.
Slowing growth complicates New Delhi’s efforts to create jobs for its exploding youth population and balance the budget, while paying for costly social programs in advance of national elections in 2014.
India’s economy grew 5.5 per cent during the June quarter, after expanding by 5.3 per cent in the March quarter. This is the slowest pace since the global recession, which dragged India’s economic growth down to 3.5 per cent for the January-March quarter of 2009.
01:28ET 30-11-12
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