DHAKA: India’s economy grew at an average rate of 7.5% in 2015, faster than the 6.9% growth in China.

Official figures show, reports the BBC.

In recent history it has been unusual, but not unprecedented, for India to grow faster than China.

According to the IMF it happened in 1981, 1989, 1990 and 1999, and 2015 was the first instance in this millennium.

India’s government said growth in the October to December quarter was 7.3%, a slight drop on previous quarters which were revised sharply higher.

Even though the economy lost steam in the last quarter, its pace of expansion was faster than the growth posted by China in the same quarter.

India measures its economy over a fiscal rather than a calendar year.

Prime Minister Narendra Modi’s government said growth for the fiscal year ending March 2016 is forecast to accelerate to 7.6%.

BDST: 1246 HRS, FEB 09, 2016
RR