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India's Economic Growth Slowest in A Decade

Economic officials say India's economic growth fell to its slowest pace in a decade for the latest fiscal year.

India's statistics ministry released data Friday that showed growth stood at 5 percent for the 12-month period ending March 31, far below the 8 percent growth the country has averaged over the past 10 years.

Analysts say low business confidence, slumping investment, high inflation and failures to act on planned reforms are to blame for the bleak performance.



Prime Minister Manmohan Singh and the ruling Congress party have been plagued by corruption scandals, prompting opposition parties to hold up economic reforms that could spark an economic rebound.

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