Country’s first quarter Gross Domestic Product (GDP) data released on Friday by the Government reported a fall in economic growth for the April-June quarter of FY14 at 4.4 per cent as against 5.4 per cent in the same quarter previous fiscal.
Dragged down by a contraction in manufacturing and mining, economic growth stood at the slowest pace in the last four years. On a sequential basis, the growth rate declined from 4.8 per cent in the January-March period of 2012-13. Mining and quarrying contracted by 2.8 per cent in the April-June quarter against a 0.4 per cent growth in the same period of the last fiscal, according to data released by the Central Statistical Organisation (CSO) on Friday. The manufacturing sector posted a contraction of 1.2 per cent as against a decline of 1 per cent in output a year earlier. Detailed report on P10