India's economic growth is likely to dip below 7% for the 2011-12 financial year, new government statistics show. The downward revision reflects the slowdown in mining, agriculture and manufacturing sectors. Only last week Prime Minister Manmohan Singh had re-stated government figures of 7%-7.5% growth. The figure for the 2010-11 year was 8.4%.
Analysts say industry has been hit by frequent interest rate rises, designed to curb soaring inflation.
http://www.bbc.co.uk/news/world-asia-india-16923108
