RBI governor says India's economy needs to grow faster.

India's central bank chief said that the world's fastest-growing economic growth must increase from about 8% to cope with poverty and other challenges.

"The expectation is that India should be better," said Indian governor Shaktikanta das at the International Monetary Fund meeting in Washington on Friday. In areas such as land and labor

It is expected that India will have a real economic growth rate of 7.2% in the fiscal year 2019-2020 and will see inflation lower than the target due to the high oil prices causing upside risks. However, he also added that the inflation effect of the massive increase in crude oil, which is India's largest import, can be exaggerated.

"If there is a temporary increase in oil prices and declines again, it is obvious that the impact has been moderated," Das said. "The continued rise in crude oil prices has certainly seen its existence as how"

Higher oil prices in the long term may affect India's growth, including the current account deficit, factors that cause the rupee to fall. The subsequent rise in oil has become the backdrop of consumption that has been affected by the crisis in the shadow banking sector and sluggish exports amid the global slowdown.

The central bank last week cut its forecast for the fiscal year beginning from April 1 to 7.2 percent from 7.4 percent in the past. In addition, headline inflation and price pressures will not increase again. The next few months, which is a reduced rate for increased rooms