# Business

GDP slows to 7.1%; eight core industries expand 3.2%

| August 31, 2016 12:22 pm

India&’s GDP grew 7.1 per cent in the first quarter of current financial year, according to the Central Statistics Office data released on Wednesday.

The GDP slowed down to 7.1 per cent from 7.9% in last quarter of 2015-16 but it remained fastest among other major economies in the world.

The GDP growth reading is lower than the 7.6 per cent forecast by economists.

Meanwhile, eight -core industries expanded by 3.2 per cent in July. The expansion was 1.3 per cent in the year-ago period.

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