India lost the world’s fastest-growing
economy title to China.
In theJanuary-March quarter, India
registered6.3%
whereasChina recorded a growth of6.4% in the March Quarter.
India had been ahead of China fortwo years.
The country’seconomic growthrate
of India slowed to 5.8% during the fourth quarter of 2018-19 due
to low agriculture and mining output along with subdued consumer demand.
India’s economic growth driven by domestic
consumption.
According to the government data,India’s economyhas
grown at itsslowest
pace in almost five years.
Indian economy grew by6.8%in the last
financial year, with the GDP growing at 5.8% from the quarter of January-March.
The unemployment in the country reached a
45-year-high in the financial year 2017-2018.
About
China
Capital: Beijing
Currency: Renminbi
Vice
President: Wang Qishan
