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India Growth Slows to 4.7% With Rebound Seen Hinging on Election

India’s economic growth slowed last quarter, holding below 5 percent and denting the Congress party’s chances of extending its decade-long rule in national elections due by May.

Gross domestic product rose 4.7 percent in the three months ended Dec. 31 from a year earlier, compared with 4.8 in the previous quarter, the Statistics Ministry in New Delhi said yesterday. That matched the median in a Bloomberg survey.