Economy poised to take off at a much faster pace: FM

Govt expects the economy to grow an annual 7.4% in the current fiscal year

Economy is poised to take off at a much faster pace, Finance Minister Arun Jaitley told reporters on Thursday.

Asia's third-largest economy grew an annual 7.5% year-on-year in the quarter through December, higher than 7.3% 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% in the year ending in March, faster than a revised 6.9% a year earlier.

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