Growth to slip to 5.4%: IMF

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SummaryIndia is likely to witness a larger-than-expected fall in its economic growth rate at 5.4 per cent in 2012-13 but it should pick up to six per cent in next fiscal, the International Monetary Fund (IMF) said

India is likely to witness a larger-than-expected fall in its economic growth rate at 5.4 per cent in 2012-13 but it should pick up to six per cent in next fiscal, the International Monetary Fund (IMF) said today.

The government last month revised downward the economic growth for fiscal 2011-12 to 6.2 per cent from the earlier estimate of 6.5 per cent. The new estimate is to be released this week.

Tech Mahindra net dips marginally

New Delhi: Tech Mahindra has said its consolidated net profit dipped marginally to Rs 275.77 crore for Q3 due to a one-time settlement made by Mahindra Satyam.

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