Once the world’s fastest growing economy, India faces a slowdown

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India's economy grew at 4.5 percent for the three months ending September, down from 5 percent in the previous quarter and down from 7 percent for the same period a year earlier, official data showed

New Delhi, India – The Indian economy expanded at its weakest pace in more than six years, according to official data released on Friday, adding pressure on a government that is already dealing with a sputtering economy.The economy grew at 4.5 percent for the three months ending September, down from 5 percent in the previous quarter and down from 7 percent for the same period a year earlier, official data showed.

“The economy is passing through a declining growth momentum and there is no easy way out,” said Sunil Kumar Sinha, principal economist at India Ratings, a Fitch unit.

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