India to remain one of world's best performing economies: Reddy
The country has been in the process of self-accelerating growth and will continue as one of the world's best performing economies. April best time for saving
By PTI |
MUMBAI: The country has been in the process of self-accelerating growth and will continue as one of the world's best performing economies in the months ahead.
"We (India) have been on the path of self-accelerating growth...In the new millennium, the growth has been an average 7.2 per cent. In the last four years, the growth was an average of 8.7 per cent," Reddy told a seminar here.
The central bank would ensure price stability and adequate flow of credit in its forthcoming credit policy while financial stability, macro-economic growth and management of forex reserves would continue to be focus areas, he said.
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Noting that growth in the economy has been largely driven by domestic savings, Reddy said economic activities have been supported by the domestic savings in the past years.
"The strengthening of economic growth has been supported by domestic savings....In the past few years, about 95 per cent of our investments were from domestic savings," Reddy said.
The country has sustained a robust macro-economic performance, showing the vibrancy and resilience of the economy despite high food prices and turbulent global markets, Reddy said.
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