Indian economy grew by 5.3% in July-September quarter as compared with the year ago period, keeping it on track for its worst year in a decade.

Official data released on Friday showed the GDP growth was even below the 5.5 per cent posted for the three months ending in June but equal to that in the quarter ending March.

Growth was dragged down by subdued manufacturing output growth of 0.8 per cent and agricultural output of 1.2 per cent.

Mr C Rangarajan, chairman of the Prime Minister’s Economic Advisory Council scaled down his earlier forecast and said the full year growth would be between 5.5% and 6%.

Source - Business Standard

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