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India posts lower than expected growth of 4.7% in last quarter

Published on Feb 28, 2014 8:31 PM

NEW DELHI (AFP) - India posted slightly lower-than-expected growth of 4.7 per cent in the last quarter of 2013, data showed on Friday, marking more bad news for the ruling Congress ahead of looming elections.

The 4.7 per cent year-on-year expansion in the three months to December undershot market forecasts of around five per cent growth and reflected high interest rates that have crimped investment and consumer spending.