More than resilience, economy needs hard-nosed reforms to sustain growth

It is necessary to see the challenge posed by the prevailing situation as an opportunity and respond effectively to make the economy competitive

Speaking at the Kautilya Economic Conclave in Delhi, the Union Finance Minister Nirmala Sitharaman is reported to have alluded to the enormous resilience the Indian economy has acquired in the face of global turmoil by firmly anchoring economic growth in domestic consumption. This was re-emphasised by the Reserve Bank of India (RBI) governor, who stated that the country has settled well into a resilient growth equilibrium, defying all odds to provide stability in a volatile global environment.

 

Surely, these statements infuse a lot of confidence, particularly in the wake of enormous uncertainty caused on the