Close X
Saturday, November 30, 2024
ADVT 
India

India's 7.3 Percent Growth Neck-and-neck With China's

Darpan News Desk IANS, 29 May, 2015 11:04 AM
    India may have just fallen short of surpassing China as the fastest-growing emerging market economy in 2014-15, but its 7.3 percent growth is expected to have matched that of the Asian neighbour, according to official data released here Friday.
     
    The Indian economy had expanded by 6.9 percent in the previous fiscal year.
     
    Even as official data from Beijing is awaited, estimates on the Chinese economy also suggests a 7.3 percent growth during 2014-15. Multilateral institutions such as the World Bank and the International Monetary Fund have also in their recent estimates said India may well be the fastest-growing emerging market economy.
     
    The growth in India's gross domestic product (GDP) -- which is a measure of the total value of goods and services produced in the country -- was estimated to have expanded by just 4.7 percent in 2013-14 as per the earlier estimate. But after a revision in base year to 2011-12, the growth stood altered to 6.9 percent.
     
    The Prime Minister Narendra Modi government has already been taking the credit for a faster economic growth in its first year in office, even as he Congress party has charged that the government had in financial jugglery to project a much higher growth.
     
    The growth for the four quarters of fiscal 2014-15 was 6.7 percent, 8.4 percent, 6.6 percent and 7.5 percent, according to the release issued by the Central Statistics Office under the ministry of statistics and programme implementation.
     
    The official statement said the growth in agriculture output was at 0.2 percent in 2014-15, manufacturing at 7.1 percent and services at 10.7 percent. The advance estimates had indicated a figure of 1.1 percent, 6.8 percent and 8.4 percent, respectively fo the three sectors.

    MORE India ARTICLES

    Delhi election battle Feb 7, result Feb 10

    Delhi election battle Feb 7, result Feb 10
    A year after Arvind Kejriwal resigned as chief minister leading to President's rule, Delhi will elect a new assembly Feb 7 and the results will be known Feb 10, it was announced Monday....

    Delhi election battle Feb 7, result Feb 10

    India, US keen to have 'excellent outcomes' from Obama visit

    India, US keen to have 'excellent outcomes' from Obama visit
    With a fortnight left for US President Barack Obama's visit, India Monday said it was looking forward with great enthusiasm to the "landmark" visit and both...

    India, US keen to have 'excellent outcomes' from Obama visit

    Gujarat a cultural crossover to the world: Ban Ki-moon

    Gujarat a cultural crossover to the world: Ban Ki-moon
    UN Secretary General Ban Ki-moon Sunday said Gujarat could also be a crossroad for a new era of sustainable development while it has long been a cultural crossover to the world.

    Gujarat a cultural crossover to the world: Ban Ki-moon

    Shashi Tharoor in Delhi, likely to be questioned over Sunanda murder

    Shashi Tharoor in Delhi, likely to be questioned over Sunanda murder
    Congress MP Shashi Tharoor Sunday reached the national capital and is likely to be questioned by Delhi Police in connection with his wife Sunanda Pushkar's murder.

    Shashi Tharoor in Delhi, likely to be questioned over Sunanda murder

    Arvind Kejriwal Kejriwal hits out at BJP, mocks Narendra Modi

    Arvind Kejriwal Kejriwal hits out at BJP, mocks Narendra Modi
    AAP chief Arvind Kejriwal Sunday hit out at the BJP for making false claims and mocked Prime Minister Narendra Modi for calling him an "anarchist".

    Arvind Kejriwal Kejriwal hits out at BJP, mocks Narendra Modi

    We are reviving economy, invest in India: Modi

    We are reviving economy, invest in India: Modi
    Making a decisive push towards generating investment to see the success of his 'Make in India' mantra, Prime Minister Narendra Modi said Sunday his government was trying to revive the economy, and told global investors that India today was a land of opportunities.

    We are reviving economy, invest in India: Modi