After peaking in the first quarter of the current year, growth in the Indian economy moderated in the July-September period, as agriculture and industry slowed.
Gross domestic product grew by 7.1 percent in the second quarter of the financial year compared to 6.3 percent in the same quarter last year, showed data released by the Central Statistics Office on Friday. GDP grew at a stronger clip of 8.2 percent in the first quarter of the year, helped partly by a strong base effect.
In gross value added terms, the economy grew at 6.9 percent in the July-September period. This, too, was a moderation compared to the 8 percent GVA growth reported in the first quarter.
For the full year, the Reserve Bank of India expects GDP growth at 7.4 percent. The data released today may lend itself to a downside bias to those growth expectations.(Source : Bloomberg).