India has produced cheers in the fast slowing global economy with a 7.9% growth in GDP in the fourth quarter of 2015-16. As per the revised estimate, yearly growth also improved to 7.6% over the 7.2% recorded in the previous year.
The new growth rate trend reassures the tag of the fastest growing economy to India.
New figures also indicate the widening performance gap between India and China. Chinese economic growth was 6.7% during the first quarter of this year.
Resurgence in growth performance may bring additional pressure on the government to maintain it. Current situation -both domestic and external is not favorable to support the high growth according to most observers.
Declining exports amidst slowdown in the global economy has caused continuous decline in export turnover. Similarly, poor performance of the agricultural sector over the last few quarters may adversely affect overall GDP growth in the current quarter.
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