Arab Today, arab today india quarterly growth slows to 53
Last Updated : GMT 00:46:14
Arab Today, arab today
Arab Today, arab today

India quarterly growth slows to 5.3%

Arab Today, arab today

Arab Today, arab today India quarterly growth slows to 5.3%

New Delhi - AFP

India\'s economy grew by 5.3 percent in the quarter to September, according to the latest data, continuing a slump blamed on falling investment and weak industrial activity. The figures for the July-September quarter were slightly better than expected by analysts, who had forecast growth in gross domestic product of 5.2 percent, but were weaker than data for the April-June quarter. The economy has been hit by high interest rates, Europe\'s debt crisis which has slowed exports, and sluggish investment caused by domestic and overseas concerns about stagnant policy-making and corruption. The 5.3 percent growth in the second financial quarter was down from 6.7 percent growth in the same period a year ago. Manufacturing performed the weakest, growing by a scant 0.8 percent from a year earlier. Services such as hotels and transport grew by 5.5 percent while financial and property activities jumped by 9.4 percent. Analysts say the worse may now be over after a string of pro-market reforms by the left-leaning government since September which are aimed at reviving confidence and boosting growth. Goldman Sachs this week upgraded Indian shares in anticipation of a pick-up in growth and easing inflation that would give the central bank room to cut borrowing costs and spur the economy. Goldman Sachs economist Tushar Poddar said he saw \"an improving outlook\" with growth climbing to 7.2 percent in 2014 from 5.4 percent in 2012. He cited falling oil prices, growing domestic demand as incomes rise and economic reforms that could ease supply and infrastructure bottlenecks. The Congress-led government agreed Thursday to a vote in parliament on the contentious issue of allowing supermarket foreign giants like Walmart to operate in India, a move that critics fear could close many small family-run stores. The government\'s decision was an attempt to end a parliamentary stalemate and press ahead with its reform agenda that includes opening up the vast pensions and insurance sectors to greater investment from overseas. The government is expected to win the vote on retail policy next week comfortably in the lower house but may face a tougher fight in the upper house. While defeat would be a loss of face for the government, it would not be a vote of confidence and so would not lead to early elections. \"GDP growth this (fiscal) year will probably fall a little bit below 5.5 percent or thereabouts and it will start recovering in the fiscal year 2014,\" Atsi Sheth, senior analyst at global ratings agency Moody\'s, told the Economic Times. While growth of above 5.0 percent would be the envy of much of the world, it is not enough for India which has been aiming for close to double-digit expansion as it seeks to reduce crushing poverty. \"For us, eight percent growth is not an aspiration but a necessity. India cannot afford to grow below eight percent,\" Finance Minister P. Chidambaram said.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india quarterly growth slows to 53 Arab Today, arab today india quarterly growth slows to 53

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Russia, Iran ink economic deals

GMT 08:03 2017 Wednesday ,29 March

Russia, Iran ink economic deals
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 11:55 2017 Wednesday ,29 March

Need ‘gymspiration?’ The top fun fitness bloggers

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday