India lost the world’s fastest-growing
economy title to China.
In the January-March quarter, India
registered 6.3%
whereas China recorded a growth of 6.4% in the March Quarter.
India had been ahead of China for two years.
The country’s economic growth rate
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 economy has
grown at its slowest
pace in almost five years.
Indian economy grew by 6.8% 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
India lost its spot as the worlds fastest growing economy to China
