India’s infrastructure growth slowed to a three-year low of 4.2 percent in the fiscal year ending in March, indicating Prime Minister Narendra Modi faces a tough challenge to boost investment ahead of general elections due early next year.
Annual output growth was 4.2 percent during the 2017/18 fiscal year that ended in March, lower than 4.8 percent in the previous year, and dragged down by slower growth in the production of coal, steel and electricity, according to data released on Tuesday by the Ministry of Commerce and Industry.
Modi, who is expected to seek a second five-year term next year, has eased several rules and pumped billion of dollars of state funds into building roads, ports, and airports to support economic growth and create jobs.
India completed on Sunday the electrification of all its villages 12 days ahead of a deadline set by Modi, which could give the ruling party a boost ahead of a general election in 2019. Read More
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