Nov 30, 2012
India's growth rate slowed in the July to September quarter, putting pressure on the government to implement more reforms and ease monetary policy.
Growth was 5.3% during the period, from a year earlier. That is down from 5.5% in the previous three months.
India has taken various steps, including opening its retail and aviation sectors to foreign investment, in an attempt to boost its growth rate.
However, analysts said more measures were needed to spur the economy.
Brinda Jagirdar, chief economist at State Bank of India said that India's central bank needed to cut interest rates to help revive growth.
The central bank, the Reserve Bank of India (RBI), has so far resisted the calls to lower borrowing costs, saying its focus is to keep inflation under control.
However, Ms Jagirdar said that "there is a wide-scale slowdown in growth and focus now should shift from inflation to growth".
"Growth has become critical as consumption is stalling on top of continued investment slowdown," she added.
Source：economist.com