India’s growth lower than expected

India posted slightly lower-than-expected growth of 4.7 percent in the last quarter of 2013, data showed Friday, marking more bad news for the ruling Congress party ahead of looming elections. The 4.7 percent year-on-year expansion in the three months to December undershot market forecasts of around five percent growth and reflected high interest rates that have crimped investment and consumer spending. It was India's fifth straight quarter of below five-percent expansion. Growth has crumbled from nearly double-digit expansion just two years ago, a level economists say India must reach again to generate enough jobs for its vast young population, according to AFP.