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India's GDP growth hits 6-year low, more stimulus expected

Analysts believe the slowdown could persist for two or three years while much needed structural reforms are put in place

Illustration: Ajay Mohanty
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Illustration: Ajay Mohanty

Reuters New Delhi
India's economy grew at its weakest pace since 2013 between April and June as consumer demand and government spending slowed amid global trade frictions, raising chances of the central bank cutting interest rates further at its next meeting.

Asia's third largest economy expanded just 5.0% year on year, official data showed on Friday. Analysts believe the slowdown could persist for two or three years while much needed structural reforms are put in place.

In its annual report on Thursday, the Reserve Bank of India (RBI) said a big push on infrastructure spending would be needed to revive consumer demand and private investment.

Structural
Topics : GDP growth

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First Published: Aug 30 2019 | 9:06 PM IST

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