India overtakes China in GDP growth rate
New Delhi : India’s gross domestic product (GDP) inched up by 7.5% during the January-March period to surpass China which scaled a growth of 7% in the same period, mainly on account of improvement in services and manufacturing sectors.
Highlights:
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India’s gross domestic product (GDP) grew at a rate of 7.5% in January-March
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China grew at a rate of 7% during the same tenure
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For full tenure of one year 2014-15 the growth was 7.3% for India
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While, China marked it to 7.5 %
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The growth numbers are under the new GDP series, which is wholly based on profits of companies both private and public and wage increases
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Many economists have raised concern over it as the actual growth may not reflect from it