India To Grow At 7.4% This Year And Next: Finance Minister

Nirmala Sitharaman said the International Monetary Fund and the World Bank have projected India's growth to be the fastest for the next two fiscal years, and their estimates are in sync with that of the Reserve Bank of India as well.

Union Finance Minister Nirmala Sitharaman on Friday said the Indian economy will grow at 7.4 per cent in this fiscal and continue at the same level in the next fiscal as well.

"Our own estimates have also shown based on the developments, that we are definitely at that range...7.4 (per cent) and that level will continue even next year," Ms Sitharaman said, speaking at the FE Best Banks Awards event here.

She said the International Monetary Fund and the World Bank have projected India's growth to be the fastest for the next two fiscal years, and their estimates are in sync with that of the Reserve Bank of India as well.

The global situation continues to be challenging and it is not the right time to throw caution to the winds as yet, she said.