India Still Among Fastest Growing Economies: Sitharaman

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Union Finance Minister Nirmala Sitharaman said that India remains among the fastest-growing economies of the world and efforts are being made to make it grow faster.

The International Monetary Fund (IMF) has projected a reduced growth rate for India but the country’s economy is still growing as the fastest, the Minister said.

Attending an annual meeting of the International Monetary Fund and the World Bank in Washington, Sitharaman said that she is certainly not risking comparison with China, even though the two countries’ growth rates have been projected at 6.1 percent in a latest IMF report.

Sitharaman stated that the IMF in its latest projections reduces the growth rate for all the global economies. It reduces the growth of India too. But even with that, India is still growing as the fastest growing economy.

The IMF in its latest World Economic Outlook released on Tuesday last projected the country’s growth rate at 6.1 percent for 2019 as against India’s real growth rate of 6.8 percent in 2018 and noted that the Indian economy is expected to pick up at 7 percent in 2020.

Sitharaman observed that with all that being said, the point cannot be missed that India is still growing the fastest in the given global scenario. She said, “I wish it can be more. I wish it can grow faster. I will make every effort to make it grow faster. But the fact remains that it is still growing faster” adding that it’s one of the fastest-growing economies too. But that’s not going to make me complacent, said Sitharaman.

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