IndiaSphere

India’s economic growth slipped to 7.9 per cent during the first quarter of this fiscal from 9.2 per cent for the corresponding period of the previous year.This is amidst concerns over the impact of reserve ban of India’s tight monetary policy.The growth during the first quarter was the lowest in three-and-a-half years.It is also much below the 8.8 per cent expansion registered in the previous quarter.this is as per the data released by the Central Statistical Organisation (CSO) Friday.The data came against the backdrop of concerns expressed by the Indian industry over the current financial policies.There have been worries that the tight monetary policy adopted by the central bank to tame inflation and the high interest rates were affecting manufacturing growth