India's gross domestic product (GDP) grew by 5.3% in the quarter compared with a year earlier, data showed.
That is down from 6.1% in the previous quarter. Analysts were expecting the same figure for January to March.
India is the third-largest economy in Asia but has been struggling with inflation and currency weakness.
Since July last year, the Indian rupee has seen one of the biggest declines among Asian currencies, dropping more than 27% against the US dollar.
"Shocking numbers as growth was even lower than lows witnessed during the financial crisis," said Anubhuti Sahay from Standard Chartered Bank in Mumbai.
The BBC's Yogita Limaye in Mumbai said that just a year ago India was aspiring for double-digit growth.
But a global slowdown has reduced external demand, and high inflation coupled with a weak rupee has made things more expensive within the country.
Domestic demand, which India's economy is largely reliant on, has also slowed in part due to the political upheaval in the country.
India's economy is suffering from "policy incoherence, shifting global risk appetite and a comatose government", said Rajeev Malik, senior economist at brokerage CLSA
India's Prime Minister Manmohan Singh admitted early this month that his government must do more to get the once fast-growing economy moving again.
The Congress-led coalition government is caught up in a slew of corruption scandals.
Key policy reforms, including allowing foreign investment in India's retail sector, have been delayed in parliament for more than a year.
This has worried foreign investors and threatened the country's investment grade credit rating.
"This is definitely a very important signal for the government - this is a make or break situation for India and the government has to step on the panic button," said Rupa Rege Nitsure, chief economist at Bank of Baroda in Mumbai.
"If the government doesn't step in now, India's sovereign ratings may be jeopardised."

Eman Abd El Aty, said to have weighed around 500kg (1,102lb), left an Indian hospital last Thursday after doctors said she lost more than 250kg.
But doctors in UAE say she is suffering from a "cardiac issue" and infected bed sores, apart from her obesity.
Recent weeks saw a row erupt between her doctors in India and her family.
It began when her sister, Shaimaa Selim, released a short video on social media alleging that her sister was still unable to speak or move, and had not lost as much weight as the hospital was claiming. The hospital strongly denied the allegations.
A statement issued by Abu Dhabi's Burjeel Hospital said a multi-disciplinary team of 20 doctors is treating Ms Abd El Aty.
"She is currently facing several health conditions, including a cardiac issue, which is still under intensive investigation; severe urosepsis [a bacterial infection complicating a urinary tract infection]; and third degree infected bed sores."
The statement said the doctors are "currently focused on improving her health condition and ensuring that as part of the hospital's short term goal, Eman is able to sit with minimal to no assistance".
She had arrived in India on a specially-modified Airbus plane in February and was put on a special liquid diet to reduce her weight so that doctors could perform bariatric surgery.
Bariatric surgery, also known as weight loss surgery, is used as a last resort to treat people who are dangerously obese and carrying an excessive amount of body fat.
The two most common types of weight loss surgery are:
Gastric band, where a band is used to reduce the size of the stomach so a smaller amount of food is required to make someone feel full
Gastric bypass, where the digestive system is re-routed past most of the stomach so less food is digested to make someone feel full
The Indian economy grew at the slowest rate since 2003 in the first three months of 2012, due to a widening trade gap and poor investment.
[NEXT_CONCEPT]
An Egyptian woman who was believed to have been the world's heaviest is now being treated for several health conditions at a hospital in Abu Dhabi.