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India's GDP Growth May Remain Weak

Experts said India's economic growth in the current quarter to March might remain weak, especially after it touched a decade's low of 4.5 percent in Nov-Dec quarter, reports said.

The GDP growth in the October-December quarter was contracted due to poor performance of farm, mining and manufacturing sector, giving room for Reserve Bank of India (RBI) to cut interest rates in its March 19 meeting.

The economy grew by 5.5 percent and 5.3 percent in the first and second quarters of the 2012-13 fiscal ending this month.

The economic growth in the first nine months of this fiscal (April-December) stood at 5.1 percent.

As per the Central statistical organization (CSO) advance estimates, the economy is expected to grow at 5 percent for the current fiscal, compared to 6.2 percent in 2011-12 and 9.3 percent a year before that.

The latest Economic Survey released last week said Indian economy is likely grow at a rate of 6.1 to 6.7 percent in the next fiscal claiming that the downturn is more or less over and economy is looking up.

by RTTNews Staff Writer

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