India able to sustain its economic trajectory because of supply side improvements that kept pace with demand growth

Chief Economic Adviser V. Anantha Nageswaran has stated that Indias underlining growth story is intact. This is important as the country aspires to be a developed nation at a time when the global economic and political uncertainty poses a challenge. In contrast, he said, East Asian economies had it easier when they charted their growth in a largely bipolar world. Nageswaran said that policy reforms over the past decade have begun bearing fruit. He opined that unlike past cycles of growth, India has been able to sustain its economic trajectory because of supply side improvements that kept pace with demand growth. To illustrate this, the CEA touched upon the vast improvements in logistics space, Indias substantive jump in the global innovation index, the rapid financial coverage under PMJDY (Pradhan Mantri Jan Dhan Yojana), and the better outcomes in education. Nageswaran made these comments at the Bharat@100 Summit organised by ASSOCHAM on Thursday.

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