India's GDP growth rebounds to 6.2% in Oct-Dec quarter, boosted by higher government spending
India's economy rebounded in Q3 roughly in line with expectations. GDP grew 6.2% in the three months to December, compared to the same period last year. This, as increased government spending offset a stubborn weakness in consumption. While growth rebounded, it still remains below the 8% pace expected to create enough well-paying jobs and generate economic prosperity. Meanwhile, the government raised its full-year growth forecast slightly. It now estimates the economy will grow 6.5% in the year ending March 31 this year, against a previous projection of 6.4%. Rebecca Bundhun reports from Mumbai.
India's economy rebounded in Q3 roughly in line with expectations. GDP grew 6.2% in the three months to December, compared to the same period last year. This, as increased government spending offset a stubborn weakness in consumption. While growth rebounded, it still remains below the 8% pace expected to create enough well-paying jobs and generate economic prosperity. Meanwhile, the government raised its full-year growth forecast slightly. It now estimates the economy will grow 6.5% in the year ending March 31 this year, against a previous projection of 6.4%. Rebecca Bundhun reports from Mumbai.
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