Domestic plane in India
An IndiGo airlines aircraft prepares to land as a man rides his cycle rickshaw in Ahmedabad, India, Oct. 26, 2015. Reuters/Amit Dave

India's economy grew by 7.4 percent in the September quarter, according to reports citing official GDP data released Monday. The figure was slightly above consensus estimates of a 7.3 percent growth.

In the previous quarter, the economy grew by 7 percent. The Indian government estimates the country's economy will grow 7.5 percent in the year through March. However, economists reportedly predict it will be in the range of 7.3 percent to 7.5 percent.

Prime Minister Narendra Modi's government has come under criticism in recent months for failing to deliver campaign trail promises of reforms that would accelerate growth in one of the world's fastest-growing economies.

On Tuesday, the Reserve Bank of India -- looking to balance growth and inflation -- is widely expected to keep monetary policy unchanged after a sharp 50-basis point rate cut at its last meeting.

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