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| India growth rate rises to 8.8% | India growth rate rises to 8.8% |
| (40 minutes later) | |
| India's economy grew at its fastest rate for more than two years in the last quarter, according to official data. | India's economy grew at its fastest rate for more than two years in the last quarter, according to official data. |
| In the three months to June, GDP was up 8.8% compared with the same period last year. | In the three months to June, GDP was up 8.8% compared with the same period last year. |
| Although only the 11th biggest economy in the world, India is the second fastest-growing, behind China. | Although only the 11th biggest economy in the world, India is the second fastest-growing, behind China. |
| Strong industrial and mining output helped boost the growth rate, India's statistics agency said. | Strong industrial and mining output helped boost the growth rate, India's statistics agency said. |
| Industrial output rose more than 12%, while mining and quarrying jumped nearly 9%. | Industrial output rose more than 12%, while mining and quarrying jumped nearly 9%. |
| Agriculture saw a 2.8% rise. | Agriculture saw a 2.8% rise. |
| In July, the Reserve Bank of India said it expected annual growth for the current financial year to come in at about 8.5%. | |
| But the bank has also said bringing down inflation remains a priority. | But the bank has also said bringing down inflation remains a priority. |
| The inflation rate topped 11% last month and the strong performance in the economy is expected to encourage policymakers to continue raising interest rates. | The inflation rate topped 11% last month and the strong performance in the economy is expected to encourage policymakers to continue raising interest rates. |
| So far this year, the central bank has raised interest rates four times in a bid to curb inflation. | |
| Economists expect further rises and many expect them to slow India's economic growth in the coming months. |