India on track to achieve faster economic growth, RBI ready to tackle risks: Das

Shakti Kanta Das- India TV Paisa
Photo: PTI Shakti Kanta Das

Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday that India is one of the fastest growing major economies in the world with growing growth prospects. He also said that the central bank is committed to take immediate and decisive action to deal with any threats to the country’s economy. Das wrote in the foreword to the 28th issue of the RBI’s Financial Stability Report (FSR) that achieving price stability at sustainable and credible levels, ensuring stability in credit levels over the medium term, would further strengthen the financial sector. Doing, and new sources of growth. Creating opportunities and promoting inclusive and green growth are key priorities at the policy level. This report reflects the collective assessment of the sub-committee of the Financial Stability and Development Council (FSDC) on risks to the financial stability and soundness of the Indian financial system. Das said that the global economy is facing various challenges. Among them, the Indian economy is showing strength on the macroeconomic front with a strong financial system. A strong financial system promotes growth.

Able to deal with any threat

“We are vigilant and committed to taking prompt and decisive action to contain risk escalation,” he said. “Enthusiasm” will be stopped. The central bank has recently taken steps to This reflects its commitment to maintain financial stability without compromising the availability of funds for the real needs of the economy. He said, “India is one of the fastest growing major economies in the world with growing growth potential. The rapid growth is driven by strong macroeconomic fundamentals, strong domestic demand and sound public policies.” is the result of

Many new challenges emerged

Das said that the country is definitely facing challenges arising from global crisis and technological changes, cyber threats and climate change. In such a scenario, RBI’s efforts are focused on strengthening the financial system, fostering responsible innovation and promoting inclusive growth. He said that the Reserve Bank and other financial regulators are engaged in maintaining financial stability and promoting a financial system that is capable of handling shocks and promoting economic growth.

Next year will also be a fast growing economy.

India is likely to be the world’s fastest growing major economy in 2024 due to strong consumer demand. This will boost investment in sectors such as construction, hospitality, infrastructure including railways and aviation. Industry body Assocham said this on Thursday. India has retained the title of the world’s fastest growing major economy. India’s gross domestic product (GDP) growth in the July-September quarter of the current fiscal year 2023-24 has been higher than expected at 7.6 percent on the back of government spending and manufacturing stimulus. The GDP growth rate of 7.6 percent is much higher than most estimates. According to official data, the growth rate was 6.2 percent in the same quarter last year, while the growth rate was 7.8 percent in the April-June quarter. India’s GDP growth overtook China’s 4.9% growth in July-September. At the same time, the economies of Western countries are facing pressure from high interest rates and energy prices.

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