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:

• India’s gross domestic product (GDP) grew at a rate of 7.5% in January-March

• China grew at a rate of 7% during the same tenure

• For full tenure of one year 2014-15 the growth was 7.3% for India

• While, China marked it to 7.5 %

• The growth numbers are under the new GDP series, which is wholly based on profits of companies both private and public and wage increases

• Many economists have raised concern over it as the actual growth may not reflect from it