GDP growth during the second quarter exceeded all forecasts and the fundamentals of the Indian economy, according to the Reserve Bank of India, remain strong. These factors build on the fundamentals that make India a top driver of global growth. According to the CEA, the public sector has done its part, and there are enough resources with the private sector, with a positive financial balance of the private corporate non-financial sector. [For]…economic growth…we need to have investment spending, which in turn leads to other positive benefits such as employment and income and eventually consumption growth. While the global economy is showing signs of slowdown, RBI officials maintain that the Emerging Market Economies as a group have remained resilient during the current round of volatility, unlike in previous episodes.

Source: Indian Express December 27, 2023 04:15 UTC