India’s economic growth is expected to be 8.9% this fiscal year, the highest among major economies, according to union finance minister Nirmala Sitharaman, who spoke at the New Development Bank’s (NDB) board of governors’ 7th annual meeting.
“Noting that India is celebrating 75 years of independence this year, the finance minister stated that India’s economic growth in the current fiscal year has been robust and is estimated to be 8.9%, the highest among all large economies,” according to a statement.
India would continue to grow at a high rate in the current and coming fiscal years, according to Sitharaman.
In the aftermath of the outbreak, India’s finance minister praised the country’s “great resilience and quick recovery.”
She emphasized the creation of innovative financial products and services as well as the encouragement of strategic investments. According to the finance minister, these are necessary to maximize development impact.
In light of the prevailing pandemic, India hosted the event electronically. ‘NDB: Optimising Development Impact’ was the theme of this year’s annual meeting. “The bank has successfully positioned itself as a dependable development partner for emerging market economies,” she said.
