India exceeds expectations with Q2 growth of 7.4%

New Delhi

INDIA'S economic growth picked up in the July-September quarter, outpacing China on improving domestic demand and manufacturing activity, which could persuade the country's central bank to keep interest rates unchanged at its Tuesday meeting.

The Reserve Bank of India is expected to keep interest rates steady after a sharper-than-expected 50 basis point cut at its last meeting, as it looks to control price increases ahead of a tighter 2016 inflation target.

Asia's third-largest economy expanded by a 7.4 per cent annual rate in the second quarter of the current financial year 2015/16 that ends in March, compared with 7 per cent in April-June, the Stat…