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Real challenge of price deflation rather than inflation: Arvind Subramanian


Real challenge of price deflation rather than inflation: Arvind Subramanian

New Delhi, Sep 02 (ANI): While addressing a press conference Arvind Subramanian, Chief Economic Adviser to the government of India said that real challenge that India needs to be focused on is of price deflation rather than inflation. He expressed his concerns post the release of gross domestic product (GDP) data for the June quarter.

He said the quarterly GDP estimates need to be treated with care. He also apprised that the revenues have increased but the subsidy payment has declined lowering GVA (Gross Value Added).

However he said the economy is moving in the right direction as both GDP and GVA add up to a better economic growth despite the fall in GVA than last year as overall the GDP would increase.

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