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India Growth Rate Set to Rival China
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Using a new methodology India's statistics agency revises growth for 2013 to 5.1%, for 2014 fiscal year to 6.9%. Growth for 2015 is forecast at 7.4%. For the 3 months Oct-Dec. 2014 the growth in GDP was at 7.5%. Changes in methodology include computing it at market price, not at factor cost. This adds up consumer and firm spending instead of producer costs.
India's revised GDP numbers and new methodology in 2015
02/10/2015
Under the revision the growth for 2013 is at 5.1%, for 2014 6.9% and the forecast for 2015 at 7.4% The weaker role of the private sector will be made up by government infrastructure spending for roads, railways and housing.
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