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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

By

Vrishti Beniwal

May 31, 2016, 12:08 PM UTCUpdated onMay 31, 2016, 12:42 PM UTC

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.