Jan 23, 2016 03:09 PM IST | Source: PTI

India one of the most stable nations globally: CEA Subramanian

"When things are bad externally, it affects all countries. That will affect India too but we are one of the most stable countries in the world. Our growth rate is high and India in the current global turmoil stands out as one of the few countries which are really in a good position," Subramanian said.

India one of the most stable nations globally: CEA Subramanian

Chief Economic Advisor Arvind Subramanian has said that in present volatile global economy, India is one of the most stable countries and the government is committed to doing what is best in the nation's interest.

"When things are bad externally, it affects all countries. That will affect India too but we are one of the most stable countries in the world. Our growth rate is high and India in the current global turmoil stands out as one of the few countries which are really in a good position," Subramanian said.

The chief economist was here to participate in a session 'Fiction and Economics' at the ongoing Jaipur Literature Festival here. "China is a very big country; whatever happens to China affects all the countries. It will have impact on rest of the world, including India, but the government of India is committed to doing which is in the best interest of the country," he said.

Asked about the continuing problems in China, whose economy is about five times that of India, Subramanian said that the neighbouring country's story would depend on what actions its government takes to address the situation. "It is all going to depend (in China) on actions that the country takes," he said.

India had outpaced China as the world's fastest growing economy in 2015. In India, he said, that over the last one and a half years, reduction in oil prices helped the country's economy.

"Fiscal situation was helped by the oil prices, inflation came down and internal sectors appear healthy," he said.

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