India's economic growth slowed by more than expected in the April to June period, according to official figures.
The country’s gross domestic product rose by 4.4 per cent in the period April to June 2013 – the lowest in more than four years. This was down from 4.8 per cent growth in the previous quarter and 5.4 per cent the year before. Analysts had expected to see 4.7 per cent growth.
Standard Chartered has cut its growth forecasts for 2014 to 4.7 per cent from 5.5 per cent, citing upside risks to inflation and fiscal deficit.