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Indian economy on track: Finance Ministry
Why is it in the news?
- The finance ministry said Indian economy is projected to be the fastest-growing major economy in the current and upcoming fiscal 2019-20.
- It also said that the government has taken several steps to boost investors confidence.
More in the news
- Year End Review by Finance Ministry:
- According to a recent World Bank report, India has improved its ranking in the Ease of Doing Business to 77th in 2018.
- The average growth of the Indian economy between 2014-15 and 2017-18 was 7.3%, fastest among the major economies in the world.
- This is borne by GDP growth of 7.6 per cent in the first half of 2018-19.
- Also the Indian economy is on track to maintain a high growth rate in the current global environment.
- Inflation: The country witnessed moderation during 2017-18 and this progress is a result of a number of initiatives and reforms undertaken by the government which follows in the subsequent pages.
- Consumer Price Index-based headline inflation averaged 3.3% during the period which is the lowest in the last six financial years.
Source
The Hindu.