India’s economy grows 7.4% in Q2
The acceleration in growth was attributed to higher domestic demand and manufacturing activities as well as a drop in commodity prices, which resulted in cheaper imports of fuel and gold. India’s Q2 economic growth rate also outpaced that of China, whose economy grew 6.9% in the same period.
Meanwhile, the Reserve Bank of India (RBI) held its key interest rates unchanged at 6.75% today. In September, the central bank had cut interest rates for the fourth time since the beginning of 2015 to a four-year low.
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