Reserve Bank of India (RBI) Governor Shaktikanta Das has said that the Indian economy is strong enough to handle any adverse fallout from global events.
“Today, the growth of the Indian economy presents a picture of stability and strength,” Das said while addressing an event at the launch of the Kochi International Foundation here.
The country’s external sector is also strong and the current account deficit (CAD) has remained within manageable limits as it presently stands at 1.1 per cent of GDP. Earlier, in 2010 and 2011, it was in the range of six to seven per cent, he added.
The central bank chief also pointed out that India has one of the largest foreign exchange reserves in the world at about $675 billion. He further stated that the country’s inflation was expected to be moderate despite periodic humps.
India’s inflation rose to 6.2 per cent in October from 5.5 per cent in September because of food inflation, he said. Read more
Source: NDTV