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India to be fastest-growing economy this year despite risks of global slowdown: RBI Governor
Apr 15, 2019

India will remain to be the fastest-growing economy this year clocking a growth rate of 7.2 per cent in 2019-20, despite risks of a global slowdown, financial markets and crude price volatility, according to the Reserve Bank of India governor Shaktikanta Das. 
 
He called for greater co-operation among emerging market economies on all fronts which will help them be better off in this uncertain environment. 
 
Real GDP growth is expected to clock 7.2 per cent during 2019-20, the fastest among large economies of the world, growing by an average rate of around 7.5 per cent in recent years said Das at the event Governor Talks on the sidelines of the Fund-Bank Spring Meetings, 2019, Washington DC. 
 
As for the other macro-economic parameters, inflation has remained below target, averaging 3.6 per cent for the period under the inflation targeting framework so far (since October 2016 up to February 2019); the current account deficit is expected to be around 2.5 per cent of GDP in 2018-19; and the gross fiscal deficit has adhered to budgetary targets. 
 
Going by the low inflation print, the Reserve Bank of India had lowered its benchmark repo rate, the rate at which it lends to banks by 25 basis points, in its bi-monthly policy review on April 4, last week. 
    

Economictimes.indiatimes

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