India’s GDP growth at 4.7% in December quarter

India’s economy grew at 4.7% in the December quarter, in line with analyst expectations. It is also slightly higher than the six-year-low of 4.5% in the previous quarter. The Q3 growth can be attributed to a small rebound in rural demand, private consumption and government spending. The government has been looking for overall GDP growth of around 5% for the full financial year ending March. That would be its worst performance since the 2008 global financial crisis.

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