Factors for lower growth rate 1.

Declining Investment Indian Investment are declined from 40% in 2008 to 29% in 2012. It form major part of Annual Income. Y = C+G+I+NX Low Investment results into low income, which affect overall growth rate. To increase investments, Government open up retail policy and allow 51% FDI in telecom as well as telecom sectors. 2. Low Agricultural Growth About 70% of India population lives in villages and involves in farming and mining activities India has 2.7% of agricultural growth rate which result in small increase in rural income which further dampens rural consumptions. 3. Policy Paralysis Number of Infrastructure projects are pending for approval at various Government of India Ministries. Various railway, sub-urban transport , power projects are common projects pending at different Ministries and even some projects are delay due to public protest.
(http://indiatoday.intoday.in/story/projects-pending-manmohan-singh-calls-meet-infrastructure/1/199085.html http://articles.economictimes.indiatimes.com/2013-11-19/news/44242533_1_ultra-mega-power-projects-fourprojects-planning-commission)

4. European Crisis Capital flows into the economy and exports are likely to take a beating. Foreign institutional investor (FII) investment pattern is marked with high volatility. A sudden surge in investment pattern is as detrimental as an unannounced withdrawal. A surge in FII investments will lead to increased inflationary pressures and building of an asset bubble that could burst anytime
(http://articles.economictimes.indiatimes.com/2011-10-10/news/30263012_1_euro-zone-crisis-subprimemortgage-crisis-severe-debt-crisis)

5. Current Account Deficit A measurement of a countrys trade in which the value of goods and services it imports exceeds the value of goods and services it exports. The current account also includes net income, such as interest and dividends, as well as transfers, such as foreign aid, though these components tend to make up a smaller percentage of the current account than exports and imports. The current account is a calculation of a countrys foreign transactions, and along with the capital account is a component of a countrys balance of trade.

During this financial year CAD plunge to 5% of GDP, CAD occur predominantly from Petroleum and gold imports.

To overcome this CAD, Government puts various steps to promote export taking advantage of depreciating rupee and check gold imports, as a result of these CAD dips to $5.2 Billion in last quarter
(http://www.financialexpress.com/news/cad-in-india-plunges-to-5.2-bn-as-exports-rise-gold-imports-decline-inquarter/1202268)