India’s economy has surged, with growth projected to exceed 8 % in the last year, RBI Governor Sanjay Malhotra told delegates at the IMF’s annual meeting in Washington. The governor highlighted how a domestic‑driven economy keeps India resilient, even when global tariffs hit other markets hard.
He pressed on the US tariff war, which has slowed trade worldwide, but said it “is not a huge concern” for India. Instead, he focused on the challenges of navigations through an uncertain policy landscape that many emerging economies face. “We are living in unprecedented uncertainties that test growth,” he said.
Malhotra praised India’s recovery from the Covid‑19 shock and the spill‑over effects of the Russia‑Ukraine war. The country has tightened inflation dramatically—from 8 % earlier to just 1.5 % today, the lowest in eight years. Oil price swings have eased, buoying the economy further.
The governor also underlined fiscal health, noting the fiscal deficit now sits at a manageable 4.4 % of GDP and the total debt is among the lowest globally. He credited close coordination between the government and the fiscal committee for this achievement.
Currency stability remained a key point. While the dollar fell 10 %, the rupee has not weakened as sharply as many other currencies, thanks to tighter control on capital outflows. An orderly rupee movement is a top priority, the governor stressed. He added that India’s capital markets are deep and robust, providing a solid foundation for investment and growth.
In short, India is steering through global turmoil, keeping inflation low, strengthening fiscal discipline, and maintaining currency resilience—factors that together fuel its vibrant, domestic‑driven growth.
Source: ianslive
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
