Economy grows 7.7% in Apr-June

The Indian Economy has shown the slowest pace in six quarters. Data released by the Central Statistics Office have showed growth in the April-June quarter of the current financial year stood at 7.7% compared to 8.8% in the same year-ago period. In the January-March quarter, the economy expanded 7.8%. The reasons are:

1. Rising interest rates
2. High inflation
3. Global uncertainty

However, India is still one of the fastest growing economies in the world. This is the second successive quarter when growth has slowed below the 8% mark but still remains robust compared to other global economies. ^{(Graphics source: Economic Times)}

Month: Current Affairs - November, 2011