India shows exemplary resilience in recovery from COVID-19 crisis, says Chief Economic Advisor (CEA) Anantha Nageswaran
"India has shown an exemplary resilience in recovering from a crisis due to the COVID-19 pandemic," he said.
The country has shown exemplary resilience in recovery from the COVID-19 pandemic crisis, Chief Economic Advisor (CEA) Anantha Nageswaran said on Saturday.
Nageswaran was addressing an event on "Indian Economy: Prospects, Challenges and Action Points" at Haryana Institute of Public Administration (HIPA) here.
"India has shown an exemplary resilience in recovering from a crisis due to the COVID-19 pandemic," he said.
All major activities and parameters of the economy have crossed their pre-COVID levels, and it is now enjoying macroeconomic tailwinds, he added.
Quick and precise steps have been taken by the government at the policy level, which was supported by the Reserve Bank of India's timely interventions, the advisor noted.
Compared to developing and developed countries, the Indian economy is firm and stable in terms of various fundamentals. The developed world is moving from low inflation to high inflation and it is in such times that we have managed to keep inflationary pressure under check, he said.
The CEA said he is hopeful that as per the projections of the International Monetary Fund, India is heading towards achieving a GDP size of USD five trillion by 2027.
"Today, we have a strong revival of private investment, and the country has comfortable forex reserves to withstand turbulence in the international currency market. The exponential growth of digital payments in India during the last few years is an indication enough of fast changes in the informal sector," Nageswaran added.
With PTI Inputs
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
02:57 PM IST