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With oil prices so low, India's economic growth should have been back at over 9 per cent, Former Chief Economist at World Bank Kaushik Basu said , expressing disappointment at the 6.3 per cent GDP expansion in the September quarter.
"India's growth rate is now 6.3 per cent. It had reached a rate of 9.5 per cent from 2005-2008," Basu, who was also Chief Economic Adviser during the UPA government, said in a tweet.
"Now with oil prices so low, the growth should have been back at over 9 per cent. This massive slowdown needs to be properly diagnosed," he added.
The GDP growth in the second quarter of 2017-18 was 6.3 per cent, compared to 5.7 per cent in the April-June period — the lowest growth rate since the Modi government took office.
It was 7.5 per cent in the September quarter of last financial year.