India growth stuck at 3-year low as reforms stall

"All these so-called reforms are more of a euphoria driven thing rather than an actual impact on the economy," Arora said.

India's economy grew 5.5 percent during the June quarter, after expanding by 5.3 percent in the March quarter. This is the slowest pace since the global recession, which dragged India's economic growth down to 3.5 percent for the January to March quarter of 2009.