India's growth falls to nine-year low.

 India's Q1 GDP growth fell to a much worse-than-expected 5.3% on year from 6.1% in Q4 2011, with the farming, industrial and services sectors acting as drags. The corporate sector is experiencing its worst slowdown in recent times as confidence takes a hit from higher interest rates, policy mismanagement and political deadlock. India's BSE Sensex fell while the rupee hit a record low of beyond 56.50 to the dollar.