India expected to remain fastest growing economy: FM
05/08/2016 09:56
Finance Minister Arun Jaitley has said India is expected to remain the fastest growing major economy even as he stressed the government is making efforts to address various challenges including bad loans. The Minister also dismissed anxieties with regard to CSO data on the GDP numbers, saying that IMF, which is the most credible international body, has accepted the data. Commenting on the development, Finance Minister Arun Jaitley told the media, "For the last two years, we were the fastest growing economy in the world. I hope this year we will retain that position. The country recorded a growth rate of 7.2 per cent during 2014-15 and 7.6 per cent in 2015-16. “ "I think there is a big silver lining that after two consecutive years of bad monsoons, so far we are seeing good monsoon in the country and the result of this is that this will give rise to rural demand...This year I hope it will not only improve farm production but increase purchasing power of the rural sector," he added.
