The NSE Nifty too cracked below the crucial 10,000 mark by diving 153.45 points, or 1.51 percent, to 9,961.30.
Raghuram Rajan said there were some headwinds in the aftermath of structural reforms and the government was on its way to resolve these issues.
CSO data shows India's GDP grew at five-quarter high of 7.2% in Q3, beats China with 6.8% growth rate
The growth in GDP during 2017-18 is estimated at 6.6 percent as compared to the growth rate of 7.1 percent in 2016-17, CSO added.
India's overall taxpayer base in a nation of 125 crore (1.25 billion) people is only 48 million, or 4.8 crore -- or 3.8 percent of the population.