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India GDP Increases Almost 9 Percent

India GDP Increases Almost 9 Percent - India's economy expanded 8.9% in the July-to-September quarter from a year earlier, beating expectations and prompting the government to lift its growth forecast for the fiscal year. Finance Minster Pranab Mukherjee said Tuesday's figures round out two "favorable" quarters, noting that he upwardly revised his fiscal-year growth forecast to 8.75% from 8.5%. Analysts said the growth momentum suggests India's central bank has additional room to raise interest rates to help cool inflation after wholesale prices were 8.58% higher in October than a year earlier, following September's on-year rise of 8.62%. Economists had expected growth of 8.2% for the quarter, according to poll by Dow Jones Newswires. India's economy grew a revised 8.9% in the April-to-June quarter.

India GDP Increases Almost 9 Percent

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