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India to be fastest growing economy in 2022: Govt sources
Despite persistently high inflation, the economy has kept on its recovery, helped by pent-up demand for services and increased industrial production.
Updated : Aug 11, 2022, 07:28 PM IST
 "India to be fastest growing economy in 2022: Govt sources")
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In spite of rising rates of inflation, India is expected to have the fastest economic growth of any nation around the world n 2022, according to a senior government official said on Thursday.
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Even while inflation remains high, the economy has continued to improve because to pent-up demand for services and increasing industrial production, according to the source. The government is also reportedly adopting ongoing measures and working with the RBI to bring inflation down.
For the last six months in a row, inflation has continued to be higher than the maximum acceptable rate of 6%. Indian economic growth will be the world's quickest this and next year, according to the source.
The insider claimed the current account deficit (CAD) likely stabilise going ahead despite the widening trade gap. The government, according to the source, is keeping a close eye on borrowing costs.
The source cautioned that utmost care should be used while dealing with cryptocurrencies, adding that the recent WazirX case has shown many of the shadowy elements of crypto transactions.
According to the source, the Finance Minister might expect to get a report from a group of state ministers about GST.
(With Inputs from PTI)
