India's real GDP growth for the current financial year is likely to be 5.2 per cent as muted business confidence, subdued demand conditions and concerns in the financial sector are hurting investments, according to the Economist Intelligence Unit.
According to the the Economist Intelligence Unit, annual real GDP growth dropped to a six-year low of 5 per cent in the second quarter and data from the third quarter show "little sign of improvement".
India's economic growth has slumped for the fifth straight quarter to an over six-year low of 5 per cent in the three months ended June as consumer demand and private investment slowed amid deteriorating global environment.
"Consumer and business confidence are low, car sales plunged by 30 per cent year-on-year in July. Credit growth remains hobbled by problems in the financial sector, which is hurting investment," EIU said in a report.
