India’s economy grew at a slower pace last quarter than expected, with risks to the outlook mounting and pressure building on the central bank to cut interest rates.
Gross domestic product rose 6.7% in the three months to June from a year earlier, the Statistics Ministry said Friday — the slowest pace in five quarters and below the central bank’s projection of 7.1% for the period. Growth weakened from 7.8% in the January-March quarter.