India sees its growth exceeding economists’ estimates to overtake a slowing China, a pace Prime Minister Narendra Modi’s government will be under pressure to sustain when it presents its budget on Feb. 29.
Gross domestic product will expand 7.6 percent in the year through March, compared with 7.2 percent a year earlier, the Statistics Ministry said in a statement on Monday in New Delhi. The median of 21 estimates in a Bloomberg News survey was for a growth of 7.4 percent. China grew 6.9 percent in 2015, while Russia contracted 3.7 percent and Brazil is forecast to shrink 3.7 percent. India’s expansion slowed to 7.3 percent in October-December from 7.4 percent the previous quarter.