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.