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India's economy grows faster than China, but...
May 30, 2015
India's economy grew faster than China in the quarter through March, data showed yesterday, but a sharp downward revision for the previous quarter has added to doubts about the accuracy of a new method used to measure economic activity, NDTV reports.
Finance Minister Arun Jaitley said it is absolutely clear that the economy is in recovery mode.
Asia's third-largest economy grew 7.5 per cent year-on-year in the last
quarter, outstripping China's 7 per cent growth in the same quarter and
beating a Reuters poll of economists who forecast 7.3 per cent growth.
"We have already surpassed China's growth rate" Chief Economic Advisor Arvind Subramanian said after the data was released.
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