India's economy unshaken by global risks: CEA V Anantha Nageswaran

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India's economy unshaken by global risks: CEA V Anantha Nageswaran - Business Standard

Quick Summary:

India’s nominal GDP growth in 2021-22 was about 18.9 per cent, reaching nearly 20 per cent.

Notwithstanding the uncertain global outlook, India’s economic momentum is expected to sustain, driven by strong rural demand and a revival in urban consumption, according to Chief Economic Advisor (CEA) V Anantha Nageswaran.

He also emphasised that the Maha Kumbh will likely contribute to India’s gross domestic product (GDP) from the expenditure side.“Robust kharif production and better rabi sowing, along with higher reservoir levels and seasonal winter correction in vegetable prices, bode well for food inflation going forward,” Nageswaran observed.