India growth seen below 5pc

India is forecast to post an eighth straight quarter of below five percent growth later Friday, underscoring challenges facing new Prime Minister Narendra Modi to revive Asia's third-largest economy.
Growth has crumbled from nearly double-digit rates just three years ago -- a level economists say India must reach again to generate jobs for its vast young population.
The latest data "will be a reminder" for the new right-wing government "that a lot of work needs to be done in the economy before growth can pick up again," said Nomura Asia interest strategist Vivek Rajpal.
The economy expanded 4.8 percent on year in the fourth quarter of the financial year to March 31, according to consensus growth forecasts.
Meanwhile, tightening over the past year of both monetary and fiscal policy to curb inflation has fuelled downward pressure on growth.
The previous left-leaning Congress government forecast the economy would grow 4.9 percent in the past fiscal year to March, after expanding by a decade low of 4.5 percent in the previous 12 months, according to AFP.