India will be the world's fastest-growing economy...
A top government source said on thursday that despite rising inflation, india will be the world's fastest-growing economy this year, while inflation remains above the comfort zone, the economy is on the way to recovery, and demand for services and support is coming from the high industrial output. According to the information received from the sources, the government is taking continuous steps to reduce inflation and is in talks with the RBI.
Inflation has remained above the tolerance level of 6 per cent for six consecutive months. Growth is not likely to slow down and india will be the fastest growing economy this year and next year. On increasing the trade deficit, the source said that the current account deficit (CAD) should remain stable going forward. india will continue to be the fastest growing economy this year and next year.
The source said that the government is continuously monitoring the borrowing cost. Regarding cryptocurrencies, the source said that caution is necessary and the recent WazirX episode has exposed several black spots in crypto transactions. On GST, the source said that a group of state ministers may submit its report to the finance minister on imposing a tax on casinos.
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