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Stagflationary risk to India quite low compared to other countries: CEA

-PTI/ Business Standard

V Anantha Nageswaran also ruled out recession hitting India, given its macroeconomic fundamentals

Chief Economic Adviser V Anantha Nageswaran on Tuesday ruled out the risk of stagflation for India, saying the economy is better placed than other nations.

Stagflation is the phase when an economy faces moderation in GDP growth as well as high inflation.

"Compared to the experience of many developed and developing countries, India is somewhat better placed and more importantly both central bank and the government are seized of the problem under addressing them. I would at this stage say that stagflationary risks for India are quite low compared to the rest of the world," he said.

The Indian economy grew at its slowest pace in a year during January-March at 4.1 per cent, pulling down the GDP growth in the full fiscal 2021-22 to 8.7 per cent, official data showed on Tuesday.

On the sequential low growth, Nageswaran said it is because of the Omicron wave that the nation experienced in January.

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