20 May, New Delhi
India’s economic growth is projected to surpass that of China’s in 2016 with the GDP expected to zoom by 7.7 per cent.
This was stated in a UN report which also said that India will help accelerate growth in South Asia. The mid-year update of the UN World Economic Situation and Prospects, released yesterday, said India’s economy is projected to grow by 7.6 per cent this year and 7.7 percent in 2016, overtaking China.
China is projected to grow by 7 per cent this year and 6.8 per cent next year. The report termed South Asia’s economic outlook as largely favourable.
It said most economies are expected to experience a strengthening of growth in 2015-16 because of stronger domestic consumption and investment, and a pick-up in exports.