GDP Growth Slows To 7% in June Quarter

India's GDP or gross domestic product - a measure of the country's economy -  grew 7 per cent during the April-June period, government data showed on Monday.

Although the GDP data shows that India continues to remain among the fastest growing major economy for a second straight quarter, it is a slump from the 7.5 per cent growth in January-March.

The GDP growth data also comes below what most analysts were expecting. A Reuters poll of economists estimated GDP annual growth at 7.4 per cent in the quarter.

Doubts remain over India's new way of calculating GDP, introduced early this year, even though the method gained an endorsement from the World Bank's chief economist. With the change method, India's growth had topped that of China in the first quarter this year.

(With Reuters inputs)