India's growth rate highest among BRICS nations, says report
Updated : April 19, 2018 03:39 PM IST
According to the report titled "India Soars Higher", in spite of some reformative steps that slowed the growth momentum in the first quarter of FY18, the economy is likely to grow at 7.4% in 2018 -- higher than the advanced economies and the world -- which are at 2% and 3% respectively.
The report highlighted that India's economic stability is further reinforced with its approximately $420 billion (as on February 9, 2018) foreign exchange reserves which provides sufficient cover for almost 11 months of imports for India.
The report focused on the major flagship initiatives that hold the potential to have a transformational impact on the Indian economy and accelerate India's growth rate.