India

India's Economic Growth Slowing

After decade-long boomb

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India announces growth figures for its full financial year on Friday which are expected to show the once-booming South Asian economy expanded at its slowest pace in a decade in 2012/13.

Low business confidence, slumping investment, high inflation and weak export demand from Western countries are blamed for the bleak performance which comes ahead of national elections scheduled for next year.

The economy in the 12 months to the end of March is likely to have grown by 5.0 percent, according to a poll of six economists by AFP, dragged down by a fourth-quarter slump when GDP likely expanded 4.5-5.0 percent.