India is now world’s fastest growing economy

indiagrowthMore good news for the Modi government as FY16 GDP growth at 7.6% makes India retain its place as the fastest growing economy in the world, outpacing China once again.

The growth rate has been backed mainly by the good performance of the manufacturing and farm sectors that grew at 9.3 percent and 2.3 percent respectively during the financial year.

The Central Statistic Office also revised the Gross Domestic Product growth rate for the previous quarters of 2015-16.

The growth rate falls in line with predictions of various agencies, and the growth percentage also falls in line with the prediction of Finance Minister Arun Jaitley.