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India's July-Sept GDP growth seen around 5% y-o-y: govt sources

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India's economic growth probably slowed to around 5 per cent in the three months to September, slipping from 5.7 per cent in the previous quarter, two government sources said, putting pressure on the central bank to soften interest rates.

[NEW DELHI] India's economic growth probably slowed to around 5 per cent in the three months to September, slipping from 5.7 per cent in the previous quarter, two government sources said, putting pressure on the central bank to soften interest rates.

Official GDP data for the second quarter of the current fiscal year ending March are due to for release this Friday. "Economic growth for the second quarter is expected to be around 5 per cent, mainly due to a decline in farm and industrial output growth," a senior government source, who declined to be named, told Reuters on Tuesday.

"At the most, I can see the second quarter growth hitting 5.2 per cent," he said.

REUTERS

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