On expected lines for the government, though disappointing for India Inc., the country’s gross domestic product (GDP) growth rate slid to 4.8 per cent in the fourth quarter (January-March) on account of dismal performance by the three major sectors — agriculture, manufacturing and mining — to end the entire 2012-13 fiscal at the decade’s lowest expansion of five per cent. Having notched up a 5.4 per cent growth in the first quarter of 2012-13, 5.2 per cent in the second quarter, and 4.7 in the third, the 4.8 per cent increase in the fourth quarter was significantly lower than the 5.1 per cent expansion in the January-March quarter of 2011-12 when the GDP growth for the entire financial year was at 6.2 per cent.

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