India's Economic Growth

India's $775 billion economy expanded 9.3 percent from a year earlier in the quarter ended March 31, rounding off the financial year with growth of 8.4 percent, the fastest after China among the world's 20 biggest economies.

The Reserve Bank of India, in an unscheduled June 8 move, increased its overnight borrowing rate by a quarter-point to 5.75 percent to curb inflation after higher farm output and consumer spending helped growth accelerate from 7.5 percent in the previous year. The central bank forecasts as much as 8 percent expansion in the year to March 31.

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