India's GDP Grow Faster Than China's in Q4
India's economy advanced 7.5 percent year-on-year in the last quarter of 2014, following a revised 8.2 percent rise in the previous period as the way the GDP is calculated changed.
2/9/2015 7:17:16 PM
India's GDP is now measured in market prices instead of factor cost and the base year was changed to 2011/12 from 2004/05. According to revised figures, the economy advanced 6.5 percent in the June quarter (5.7 percent under the older methodology) and 8.2 percent in September quarter (5.3 percent was initially reported).
According to new numbers, in the last three months of 2014, the highest growth rates were reported for services: electricity, gas, water supply and other utility (10.1 percent); trade, hotels, transport, communication and services related to broadcasting (7.2 percent); financial, real estate and professional (15.9 percent) and public administration, defence and other services (20 percent).
The manufacturing sector expanded 4.2 percent; mining and quarrying went up 2.9 percent and construction rose 1.7 percent. In contrast, the farm sector shrank 0.4 percent.
The government estimates annual growth at 7.4 percent in the fiscal year ending in March 2015 from a revised 6.9 percent expansion a year earlier.