India's Economic Resilience Amid Global Challenges: Insights from Shaktikanta Das
India navigating global uncertainties like a ‘Chakravyuh’: Shaktikanta Das
Mint
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Shaktikanta Das, principal secretary to Indian Prime Minister Narendra Modi, likens India's economic challenges to a 'Chakravyuh', emphasizing the importance of careful crisis management. Despite global uncertainties, India is projected to grow at 7.6% in 2025-26, driven by digitalization, infrastructure expansion, and strong domestic demand.
- 01India's economy is compared to a 'Chakravyuh', highlighting the difficulty of exiting crises without creating new issues.
- 02Projected GDP growth for India is 7.6% in 2025-26, despite global economic challenges.
- 03Key factors supporting India's resilience include macroeconomic stability and infrastructure-led development.
- 04Inflation management is crucial for enhancing consumer spending power and ensuring economic stability.
- 05The World Bank forecasts a slowdown to 6.6% growth in 2026-27 due to global uncertainties.
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Shaktikanta Das, principal secretary to Prime Minister Narendra Modi, described India's economic landscape as akin to a 'Chakravyuh', a term from the Mahabharata symbolizing complex challenges. He emphasized that while entering a crisis may be easy, exiting it requires careful navigation to avoid exacerbating issues. Das highlighted India's projected 7.6% GDP growth for 2025-26, despite global volatility and tightening financial conditions due to high public debt and fiscal deficits in major economies. He noted that India's resilience stems from macroeconomic stability, consistent policymaking, and robust domestic demand. Furthermore, he stressed the significance of maintaining low inflation to enhance consumer spending power. The World Bank's latest report projects a slowdown in growth to 6.6% in 2026-27, reflecting the impacts of global uncertainties, particularly tensions in the Middle East. Das expressed confidence in India's economic trajectory, attributing it to strong structural factors such as favorable demographics, rising consumption, and significant infrastructure investments.
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India's economic growth projections indicate potential opportunities for job creation and infrastructure development, benefiting various sectors and the overall economy.
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