India has shown exemplary resilience in recovery from Covid-19 crisis: CEA

The country has shown exemplary resilience in recovery from the Covid-19 pandemic crisis, Chief Economic Advisor (CEA) Anantha Nageswaran said

V Anantha Nageswaran
Press Trust of India Gurugram
2 min read Last Updated : Jun 11 2022 | 2:14 PM IST

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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :CoronavirusChief Economic AdvisorIndian EconomyIndian economic growth

First Published: Jun 11 2022 | 2:08 PM IST

Next Story