India's growth down sharply to 7.1% in Q1 from 7.9% in Q4 FY2015-16

New Delhi

INDIA'S economic growth slowed sharply in the first quarter of the 2016-17 financial year, official data showed on Wednesday, missing expectations but raising hopes of an interest-rate cut.

Gross domestic product (GDP) expanded 7.1 per cent year on year in the three months from April to June, down from the stellar growth of 7.9 per cent in the preceding quarter, according to the statistics ministry.