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economic growth disappoints of india

economic growth disappoints of india         The economy grew at an annual rate of 4.6% between January and March below analysts forecasts and the same pace as the previous quarter.Asia’s third-largest economy has been weighed down in recent years by high inflation a weak currency and a fall in foreign investment. slow credit growth, and sentiment made more pessimistic by the rupee’s volatility said Bill Adams at PNC Financial Services Group.Two years ago,  The economy grew at an annual rate of 4.6% between January This level of growth is needed to provide enough jobs for India’s growing population – economists estimate 10 million jobs need to be created each year.economic growth disappoints of indiaThe last government failed to meet that target data shows that between 2004-05 and 2011-12 just 53 million jobs were created.However many economists are upbeat and expect growth to increase and more jobs to be created on the back of Mr Modi’s election.As soon as investors see the first signals of growth supportive policies you will see a definite turnaround on the ground  said Adi Godrej chairman of the Godrej group.Spending on infrastructure is expected to increase significantly in the coming months a stimulus that should help boost growth towards in the end of the year analysts say.India’s slowing growth was the nail in the coffin of the last government.For the full 2013-14 financial year growth was 4.7% the second straight year of sub-5% expansion.The manufacturing sector contracted at an annualised rate of 1.4% over the quarter while the mining sector shrank by 0.4%. Offsetting this was a 6.3% growth in the agricultural sector.economic growth disappoints of india

“The quarter weak growth was mostly due to weakness in investment held back by last year spike in interest rates slow credit growth and sentiment made more pessimistic by the rupee volatility said Bill Adams at PNC Financial Services Group.