Indian economy slowed down in the third quarter of 2002-03 posting only 2.6 per cent growth due to a drastic fall in agriculture output after the drought.
The gross domestic product during October-December 2002-03 amounted to Rs 3,52,637 crore (RS 3,526.37 billion), which was only 2.6 per cent higher than Rs 3,43,737 crore (Rs 3,437.37 billion) in the year-ago period.
GDP, which grew by a robust 6.0 per cent in the first quarter followed by 5.8 per cent in the next quarter, could not sustain the growth momentum despite impressive performance of services and manufacturing sectors, figures released by Central Statistical Organisation revealed on Monday.
