India's economic growth rate slipped to 6.1 per cent in the third quarter this fiscal, lowest in more than 2 years. This fall was due to poor performance of the manufacturing, mining and farm sectors. As per the latest data released by the government today, the Gross domestic product, GDP growth in the third quarter from October to December last fiscal was 8.3 per cent. 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. During the quarter ending December 31st, growth in the manufacturing sector dipped to a meagre 0.4 per cent from 7.8 per cent in the corresponding period of 2010-11. Mining and quarrying production contracted by 3.1 per cent during the quarter under review, as against a growth of 6.1 per cent in third quarter of last fiscal. Farm output also exhibited a similar trend and expanded by just 2.7 per cent during the quarter, compared to 11 per cent in the corresponding period last fiscal.
News On AIR | February 29, 2012 1:53 PM