India records slowest growth in a decade: FY 2012-13 at a glance

According to a report published in DimensionToday "Indian economy grew by only 5.0% in FY 2012-13, its slowest pace in a decade, according to figures revealed by the Ministry of Statistics today. Low investor confidence, slumping investment, high inflation and weak export demand were blamed for the economy’s dismal performance. Gross Domestic Product (GDP) grew at 4.8 percent in the quarter ending March 31st. The manufacturing sector grew an annual 2.6 percent during the quarter while farm output rose just 1.4 percent. The economy in contrast had grown by 6.2 percent in FY 2011-12.The economy has clearly not been able to sustain the booming growth rates of the last decade which hovered around 10 percent. "