India's July-Sept GDP growth seen around 5% y-o-y: govt sources
[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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Luxury sector outlook clouded by China’s slow recovery
TikTok CEO expects to defeat US restrictions: ‘We aren’t going anywhere’
TikTok artists and advertisers to stay with app until ‘door slams shut’
Biden signs Ukraine aid, TikTok ban Bills after Republican battle
UAE announces US$544 million for rain repairs, says lessons 'learned'
HSBC says growing Chinese wealth fuels client investments in US