Economy News

India's growth engine can become faster and accelerate if the much-awaited private capital formation kicks into higher gear, V Anantha Nageswaran, Chief Economic Advisor to the Government of India, stated while addressing the 96th Annual Convention and Annual General Meeting of FICCI. The more the private sector begins to put capital to work, the lesser will be the uncertainty. Reflecting on India's economic journey, the Chief Economic Advisor spoke about the lessons learned from the financial upheavals of the past two decades. He stressed the importance of distinguishing between euphoria and what he termed tough optimism. This approach, according to Nageswaran, involves maintaining a realistic outlook while nurturing positive economic expectations. He highlighted the Reserve Bank of India's recent measures, such as increasing the risk weights on unsecured personal loans, as an example of prudent financial management aimed at sustaining long-term economic stability.

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