• Sunday, October 02, 2022

Business

Indian growth slows sharply in June quarter

Growth figures are lower than market expectations

By: Eastern Eye Staff

India’s economic growth slowed sharply in the June quarter, putting the government’s target further out of reach and raising concerns that Asia’s third-largest economy will create too few jobs for a burgeoning workforce. Figures released by the Statistics Office on Wednesday (August 31) showed GDP grew by 7.1 per cent in the June quarter, the weakest in five quarters and down from 7.9 per cent in the preceding three months. And, while India retained the title of the world’s fastest-growing large economy ahead of China, the rate was well below the 7.6 per cent growth forecast by analysts. Growth was…

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