India's GDP growth, which hit a six-year low of 5 per cent in the first quarter of the financial year, has further dipped to 4.5 per cent, during the the much awaited government data revealed on Friday. India's economy had grown 7 per cent in the corresponding quater in the previous financial year.
The sharp drop in GDP growth rate is on expected lines as predicted by economists across the spectrum, who pegged the growth to be between 4.2 per cent and 4.7 per cent.
In worsening signs of economic slowdown, the growth in core sector contracted further month-on-month, from 5.2 per cent to 5.8 per cent, in October.
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