India economy: India likely to be fastest growing economy, says government source
The inflation number has remained above RBI’s comfort zone for a over six months. However, the economy has continued on its recovery path, supported by pent-up demand for services and higher industrial output.
There is no chance of growth slowing and India will be the fastest growing economy this year and the next, the source added.
On swelling trade deficit, the source said the current account deficit (CAD) should steady going forward.
The government is continuously monitoring borrowing cost, the source said.
(With inputs from PTI)