Economy poised to take off at a much faster pace, says FM Arun Jaitley

Finance Minister Arun Jaitley told reporters on Thursday that India's economy is poised to take off at a much faster pace.

Asia's third-largest economy grew an annual 7.5 per cent year-on-year in the quarter through December, higher than 7.3 per cent growth recorded by China in the latest quarter, after its statisticians changed the way they measure it.

New Delhi expects the economy to grow an annual 7.4 per cent in the year ending in March faster than a revised 6.9 per cent a year earlier.

"We are now poised to take off at a much faster pace," Jaitley said.

(Reuters)