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With 7.6% growth rate in 2015-16, India, the fastest growing world economy

The finance ministry announced India’s GDP growth rate is 7.6% for year 2015-16 on Tuesday morning. India cemented its position as the world’s fastest-growing economy, with March quarter GDP growth of 7.9% as against 7.2% growth in October-December.

The government also revised:

  • First quarter growth to 7.5% from 7.6%
  • Second quarter growth to 7.6% from 7.7%
  • Third quarter growth to 7.2% from 7.3%

India is now lead China, whose GDP slowed down to 6.7%, a low of seven-year between January and March 2016. The data provides BJP government a relief and makes happy, which celebrated its second anniversary on 26 May.

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