Mumbai Sensex gains as India’s growth weakens

<p>The Mumbai Sensex has rallied as India’s third-quarter growth falls short of expectations.</p>

The Mumbai Sensex has made gains in trading today (November 30th), following news India's economic growth rate has slowed.

India registered an economic growth of gross domestic product for the third quarter of the year at a lower-than-anticipated 5.3 per cent.

Government data shows that this is down from the 5.5 per cent recorded over the three months to the end of June.

The nation has taken various steps to boost its economy, but analysts believe more needs to be done to encourage real progress, with Brinda Jagirdar – chief economist at State Bank of India – saying that India's central bank needs to slash interest rates to revive the economy.

"Growth has become critical as consumption is stalling on top of continued investment slowdown," she stated.

At 06:39 GMT, the Mumbai Sensex benchmark advanced by 0.7 per cent to 19321.8 points.

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