India and China are still pretty amazing economic stories. But as I’ve said many times, my observations in India convinced me that India still has so very far to go. Now come some indications that the global economic troubles are starting to affect India’s growth.
India’s economic growth rate slipped to 6.1 per cent in the third quarter this fiscal, lowest in more than 2 years due to poor performance of the manufacturing, mining and farm sectors.
The Gross domestic product (GDP) growth the in third quarter (October-December) last fiscal was 8.3 per cent, as per the latest data released by the government today.
GDP in April-December period also moderated to 6.9 per cent from 8.1 per cent in the first nine months of 2010-11.
On the other hand, wouldn’t you love to have 6.1% growth?