India To Become World’s Fastest Economy: Ministry of Finance
India to become world’s fastest economy: Ministry of Finance.
A Finance Ministry report said that India is on track to become the world’s fastest-growing major economy, driven by factors such as necessary macro and micro growth.
According to the monthly economic review prepared by the ministry, faster vaccination and the festive season will accelerate the revival of the Indian economy.
Thereby bridging the demand-supply gap and creating more employment opportunities.
“The Self-Reliant India Mission, incorporating key structural reforms, is playing a vital role in shaping the economic revival of the country, through signaling of business opportunities and expansion of spending channels,” it said.
“This round, along with important macro and micro growth drivers, is poised to accelerate India’s investment cycle and accelerate its revival towards becoming the fastest growing economy in the world,” the review said.
The Economic Survey 2020-21, released in January this year, had projected a GDP growth of 11 percent during the current financial year ending in March 2022.
China’s industrial output stood at 11.8 percent in the first nine months of this year. This information has been received from data from China’s National Bureau of Statistics (NBS).
In the period from January to September this year, China’s GDP growth has accelerated tremendously.
India’s economy can grow again on the lines of 2003 to 2010. This is mainly due to the declining number of bad assets and increasing demand for housing coupled with corporate deleveraging and profitability.
India’s GDP growth at times has set the record for the fastest growth in Asia, surpassing China.
After the year 2016, there is a weakness in India’s GDP growth. To improve India’s GDP growth, we need to help workers and farmers.
Excise duty cut on petrol, diesel a very positive step for inflation: Shaktikanta Das.
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday that the central government’s recent decision to cut excise duty on diesel and petrol is a very positive step for inflation.
He said food inflation has been managed from the supply side, with core inflation still remaining high. Das said that overall food inflation is now under control.
