India’s economy grows 7.3% in second quarter

• Eastern Eye Staff
• 30 November, 2016

By: Eastern Eye Staff

INDIA’S economy grew by a slower-than-expected 7.3 per cent in the second quarter, the government said today (30), making an interest rate cut next week more likely amid warnings that a shortage of cash will dent growth. Gross domestic product expanded 7.3 per cent year-on-year in the three months to the end of September, up slightly from the previous quarter, official figures showed. Analysts said the figures fell slightly short of expectations of around eight per cent for the second quarter of the financial year and would add to the pressure on the central bank to lower interest rates at…

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