New Delhi, February 26: The economic growth slipped drastically to 6 per cent in the third quarter of the fiscal, around the same level witnessed during global financial meltdown, even as the Government partially rolled back stimulus on the premise that the economy is on a rebound.
The drastic slippage could be gauged from the fact that the economy grew by 7.9 per cent in the previous quarter, which raised the hopes that the economy is now on sustained recovery trajectory.
Economic growth in the third quarter came down due to a 2.8-percentage points contraction in farm output due to the worst drought in 40 years as well as a 2.2-percentage points downward spiral in community, social and personal services, the Government said.
The growth is almost same as witnessed after deepening global crisis impacted the economy from the middle of September 2008.
—Agencies