India

India among fastest growing major economies, says Govt

New Delhi: The government has said that India continues to be among the fastest growing major economies in the world and its relative standing remains unaffected.

The government’s response comes after Moody’s Investors Service changed its outlook on the country’s rating to negative from stable.

“As India’s potential growth rate remains unchanged, assessment by the International Monetary Fund (IMF) and other multilateral organisations continue to underline a positive outlook on India,” said a statement issued by the Ministry of Finance.

“India continues to offer strong prospects of growth in the near and medium term,” the statement added.

The IMF in its latest World Economic Outlook had said that Indian economy is set to grow at 6.1 per cent in 2019, picking up to 7 per cent in 2020.

 

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