While speaking at the Haryana Institute of Public Administration (HIPA) in Gurugram, the Chief Economic Advisor (CEA) Anantha Nageswaran praised the recovery made by the country post the Covid-19 pandemic hit.
The CEA says India has brought forth “exemplary resilience” in recovering from the crisis that was brought forth by the Covid-19 pandemic. He also said that all major economic activities and parameters have now crossed their pre-Covid levels.
The CEA, Nageswaran was delivering a lecture on ‘Indian Economy: Prospects, Challenges and Action Points’ at HIPA. He appreciated the timely and precise steps taken by the government at the policy level and the support offered by the Reserve Bank of India, RBI
In comparison with the economies of other developing and developed countries, he said, the Indian economy is firm and stable in various fundamentals.
“The whole developed world is moving from low inflation to high inflation, and it is in such times that we have managed to keep inflationary pressures under check,” Nageswaran said.
The CEA said he is hopeful that as per the projections of the International Monetary Fund, India is on course to becoming a 5-trillion Dollars economy by 2027. He said that the exponential growth of digital payments in India during the last few years is an indication of fast changes in the informal sector.
(With inputs from PTI)
Read: Rajiv Bajaj inaugurates dedicated plant for electric Chetak, takes dig at EV startups