Economic growth to slow down to 6.9 per cent

Economic growth to slow down to 6.9 per cent

Slowdown in agriculture and manufacturing is likely to pull down India's economic growth to a three-year low of 6.9 per cent in 2011-12 which Finance Minister Pranab Mukherjee described as “disappointing”.|

The growth rate will moderate to 6.9 per cent from 8.4 per cent in previous fiscal, according to advance estimates of national income released by the government on Tuesday. The government had initially estim­ated a growth rate of 9 per cent for 2011-12. However, the proje­c­tion was gradually scaled down to around 7 per cent by the government as well as Reserve Bank, in view of various in­ternational and domestic factors.