Economy Improving Despite Global Uncertainty: FM

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The Finance Minister has said that Indian economy has witnessed significant improvement in macro-economic stability despite uncertain global economic situation.

Commenting on the issue, Indian Finance Minister Arun Jaitley told the media, "The macroeconomic outcome is evident in the economic recovery."

Economy Improving Despite Global Uncertainty: FM
"The economy has witnessed significant improvement in the macroeconomic stability in terms of low levels of inflation, fiscal deficit and Current Account Deficit," he added.

As per reports, the current macroeconomic outcome is far superior to that in early 2013-14 when the situation was worrisome in terms of high current account and fiscal deficits with high inflation, high interest rates and low growth.

A slew of policy measures and structural reforms during the last 19 months have helped reverse the outlook as the reforms have addressed the critical problems of stimulating and stabilising the economy.

As per reports, India clocked 7.3 per cent growth rate in 2014-15, higher than 6.9 per cent growth achieved in 2013-14 and 5.1 per cent in 2012-13.

Read more about: economy, arun jaitley
Story first published: Monday, December 21, 2015, 8:40 [IST]
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