India’s Economic Growth fell to 4.4% in April-June 2013 Fiscal Quarter
India’s economic growth fell to a four-year low of 4.4% in the fiscal quarter ended June 2013
India’s economic growth fell to a four-year low of 4.4% in the fiscal quarter ended June 2013, due to poor performance of the manufacturing and mining sectors, as per the data released on 30 August 2013 by Central Statistical Office.
This is the worst quarterly growth in India's gross domestic product (GDP) since January-March quarter of 2009, the year of the global financial crisis.
The manufacturing sector contracted 1.2 percent and mining output dropped 2.8 percent in the quarter ended June 30.
The growth of agriculture sector fell to 2.7 percent, while the services sector registered a healthy 9.4 percent growth in April-June quarter of the current financial year, according to data released by the Central Statistics Office (CSO).
Quarterly GDP at factor cost at constant (2004-2005) prices for the first quarter of 2013-14 was estimated at13.71 lakh crore rupees, as against13.14 lakh crore rupees in the corresponding quarter of the previous year, showing a growth rate of 4.4 percent year-on-year, the CSO stated.
The economy had expanded by 4.8 percent in the previous quarter and 5.4 percent during the corresponding quarter of last year.