As expected, the growth rate of the Indian economy slowed down during the second quarter (July-September) of the current fiscal year.  The estimated figures released by the Central Statistical Organization (CSO) on Friday the 30th November, 2007 indicate to a clear slow down in the economy.

Gross Domestic Product (GDP) at factor cost registered a growth of 8.9% (at 1999-2000 prices) in the second quarter of the current year as compared to 10.2% during the corresponding quarter of the last year. Back-to-back quarter growth rate also points out to a decline from 9.3% in Q1.

Consequently, the first half of the current year witnessed a decline in the real growth of GDP to 9.1% as against 9.9% in the corresponding period of 2006-07.