India logged 7.6% growth in 2015-16

New Delhi, May 31 (IANS) The Indian economy expanded by 7.6 percent in 2015-16 to log the fastest growth among larger countries, while also outpacing China, official data showed on Wednesday. In the last quarter of the fiscal, in fact, the growth was 7.9 per cent.

The real per capital income also rose 6.2 percent to Rs77,435.

As per data on national income released by the Central Statistics Office, the country’s gross domestic product was Rs 113.50 lakh crore in 2015-16, against Rs 105.52 lakh crore in the year before, showing a growth of 7.6 per cent.

Based on the Reserve Bank of India’s reference rate of Rs67.20 to a dollar as on Tuesday, the country’s gross domestic output was valued at $1.69 trillion.

As per the latest data, the growth for the first four quarters of fiscal 2015-16, starting with April-June period was 7.5 per cent, 7.6 per cent, 7.2 per cent and 7.9 per cent, respecively. On an annual basis, India had grown by 7.2 per cent in 2014-15 and 6.6 per cent the year before.

In the case of China, the growth rate was 6.8 per cent in the last quarter of calendar year 2015 and 6.7 per cent during the first quarter of this year — the slowest since 2009.

–IANS

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