India's GDP slipped to 6% in Q3

India's economic growth slipped to 6 per cent in the third quarter of this fiscal compared to 7.9 per cent in the previous quarter, mainly due to contraction in farm output and certain services.

In the same period last fiscal the economy grew by 6.2 per cent. The slow down was primarily due to a 2.8 per cent fall in agriculture production and 2.2 per cent in community, social and personal services.

The manufacturing sector continued its upward march expanding by 14.3 per cent against 1.3 per cent in the same period last year. The official estimates have pegged the economic growth at 7.2 per cent this fiscal.

To achieve the target the economy would have to grow by much faster rate in the fourth quarter. Planning Commission Deputy Chairman Montek Singh Ahluwalia, however, told reporters, "It (economic growth) is on expected lines and we are hopeful of 7.2 per cent growth this fiscal."