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India Growth Surges More Than Estimated Before Rate Decision

  • GDP +7.9% January-March versus +7.5% survey estimate
  • Data cement India’s position as fastest-growing big economy
Bloomberg business news

Jaitley: No Slowdown for India

Updated on

India’s world-beating economic growth accelerated more than estimated at the start of 2016, easing pressure on central bank Governor Raghuram Rajan to lower borrowing costs when he reviews policy next week.

Gross domestic product grew 7.9 percent in January-March from a year earlier, the Statistics Ministry said in a statement in New Delhi on Tuesday. That was faster than the 7.5 percent median estimate in a Bloomberg survey of 28 economists and 7.2 percent in the previous quarter.