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India’s economy accelerated faster than China in the first quarter of 2015

India is raking up its economic reputation since Narendra Modi took over the Prime Ministerial role. Data on Friday indicated that the Indian economy has grown faster than that of China in the first quarter of the year. A 7.5 percent growth was registered by India, which is a little higher than the 7 percent growth shown by China in the same quarter._RUPEE_1317441f

Despite facing criticism over the land acquisition bill and farmer suicides, Narendra Modi is encouraging investment friendly policies, owing to which India is making a great recovery in the economic sector. The Prime Minister has to be credited for this rise and growth of the Indian economy.

When we consider sectors like Finance, Insurance and Real Estate, the growth has been recorded to be 11.5 percent. Many experts have come out in open to praise the policies of India and how they are progressing over the time. The managing director of the International Monetary Fund Christine Lagarde said that India retains a bright spot in the cloudy global horizon. Rajiv Biswas, Asia Pacific chief economist for the research firm HIS also said, “The Indian economy has shown signs of gradual recovery, but over the last year this has not met market expectations”.

Modi government has been receiving an ample of praise due to the acceleration of the Indian economy in the recent past. They are planning to spend $11 billion this year on the projects of railways, road and other infrastructure. This is done in order to derive more private investment in the country.

The Central Stats Office however saw a decline in the economic growth of India which has come down to 6.6 percent from 7.5 percent on Friday. It raises a substantial number of questions on the new method that is used for measuring an economic activity.

About David Mayor

Writer and editor of The Next Digit Media, he takes care of iOS, Apple, Mac and other gadgets. He worked at Apple Inc, before joining to TND Media. He was graduated in Bachelor of Journalism & Mass Communication Degree from Cambridge University. All posts by David

6 comments

  1. to bad India cant use some of that money and provide its citizens with running water and sewage.

  2. I'm fairly certain that they don't have enough money OR infrastructure to provide everyone with running water or sewage. I think they are on the right track by working on the infrastructure first. Once they improve that aspect of their country, their economy may begin to really grow exponentially.

  3. Rape was also up 7.5% in India.

  4. But they are least ashamed of it, as they want there percentage to be compared worldwide.

  5. It'll be interesting to see if India's recent growth is just a blip or can be sustained long term. Also, comparing to giant third world countries that have some similarities, is India's more open, democratic social structure more conducive to growth than China's more restricted, over-managed economy? Or, conversely, will China's model win out?

  6. Think about the highest level is 5. To assume China is at level 4, probably, India is at level 2.5, so its not surprised to us to see the growth of India. Maybe, in the future, when India get the level 4, it will only have 4 percent growth.

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