India growth at 5.3 pct, stuck at 3-yr low

India growth at 5.3 pct, stuck at 3-yr low
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Summary India's economy grew 5.5 percent during the June quarter.

 

MUMBAI: India says its economy grew 5.3 percent in the September quarter, stuck at its lowest levels in three years as New Delhi struggles to enact reforms to kick-start investment and growth.

 

The number was in line with expectations.

 

Slowing growth complicates New Delhi s efforts to create jobs for its exploding youth population and balance the budget, while paying for costly social programs in advance of national elections in 2014.

 

India s economy grew 5.5 percent during the June quarter, after expanding by 5.3 percent in the March quarter. This is the slowest pace since the global recession, which dragged India s economic growth down to 3.5 percent for the January-March quarter of 2009.
 

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