India has posted slightly lower-than-expected growth of 4.7 per cent in the last quarter of 2013, data shows, marking more bad news for the ruling Congress party ahead of looming elections.
The 4.7 per cent year-on-year expansion in the three months to December undershot market forecasts of around five per cent growth and reflected high interest rates that have crimped investment and consumer spending.
It was India's fifth straight quarter of below five-per cent expansion.
Growth has crumbled from nearly double-digit expansion just two years ago, a level economists say India must reach again to generate enough jobs for its vast young population.
Earlier this month, the government forecast the economy would grow by 4.9 per cent in this fiscal year to March, after expanding by a decade low of 4.5 per cent last year.
