India's economy grows faster than China, but...
May 30, 2015 12:54
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.
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.