Indian economy slows to 6.1% in Jan-March quarter

Indian economy
Indian economy slows to 6.1% in Jan-March quarter

NEW DELHI: According to data released by the Central Statistics Office (CSO), the Indian economy has slowed down sharply in the January-March quarter to 6.1%, down from 7% in the previous quarter.

On the other hand, the overall pace of growth in 2016-17 moderated to a three-year low of 7.1%, on Wednesday. Economists said the dip was due to the impact of the government move to scrap some high value notes in November last year hurting sectors such as construction.



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Purely based on the rate of quarterly growth, the Indian economy may have ceded its place as the fastest growing major economy in the world to China, which expanded 6.9% during the January-March period in 2017.



Overall growth in 2016-17 slowed from the previous year’s upwardly revised 8% growth. In terms of annual GDP growth, India remains the fastest growing major economy in the world. The 7.1% growth was in line with government estimates.

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