India’s economy grew at the slowest pace in more than two years last quarter as domestic demand weakened and the global recovery faltered, adding pressure on the central bank to lower interest rates. Gross domestic product rose 6.1 percent in the three months through December following the previous quarter’s 6.9 percent climb, the Central Statistical Office said in a statement in New Delhi today. The median of 29 estimates in a Bloomberg News survey was for a 6.3 percent advance. The Reserve Bank of India has signaled readiness to join nations from Brazil to Indonesia in cutting borrowing costs to aid the economy as ... (full story)