India is in better place than many other nations, financial sector in robust health: CEA

Despite the downward revisions, India remains the fastest growing economy in the world, Chief Economic Advisor V Anantha Nageswaran said on May 31.

“Recovery has been consolidated. Pre-pandemic levels of activity have been captured in several sectors. India is in a better place than many other nations and financial sector is in far better shape to support growth,” he said.

“India isn't an island with respect to inflation. It is global today. Germany which is most anti-inflation country is experiencing inflation at unprecedented levels. In UK, inflation is expected to be in double digits in 2nd half of year. India at 6 per cent is much better than others,” added the CEA.