NEW DELHI : Chief Economic Adviser (CEA) V. Anantha Nageswaran on Tuesday said that risks of stagflation for India are lower than other countries. Stagflation is a scenario wherein the GDP growth slows down and the inflation remains high at the same time. The CEA said that sequential growth was low because of the impact of the Omicron variant of Covid in January. Noting that India’s inflation is currently high, he said that advanced economies have seen a steeper surge in inflation compared to India. He said that balancing growth, inflation, fiscal and current deficits and the external value of the currency will continue to be the policy focus in the ongoing financial year.

Source: Mint June 01, 2022 06:49 UTC