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Indian economy poised for recovery, but high crude prices worrisome : CEA V Anantha Nageswaran

The banking sector in the country is stable, capital is available and credit offtake is poised to take off, V Anantha Nageswaran said at a webinar organised by Bharat Chamber of Commerce.

February 24, 2022 / 05:32 PM IST
Dr V Anantha Nageswaran, the new Chief Economic Advisor (CEA), is an IIM-Ahmedabad graduate.

Dr V Anantha Nageswaran, the new Chief Economic Advisor (CEA), is an IIM-Ahmedabad graduate.

Chief Economic Advisor (CEA) V Anantha Nageswaran on Thursday said that the Indian economy is now poised for recovery but high crude oil price is a cause for concern.

The banking sector in the country is stable, capital is available and credit offtake is poised to take off, he said at a webinar organised by Bharat Chamber of Commerce.

"We are not unique to the phenomenon of uncertain growth and high inflation due to the pandemic. Developed countries are also facing the same problem,” he said.

The budget for 2022-23 has been made keeping in mind that the price of crude oil will be around USD 75 per barrel.