India's economic growth robust, likely to be sustained: DEA

In times when slowing growth and high inflation are impacting most of the major economies across the globe, India’s growth has been robust and inflation in control, the Department of Economic Affairs (DEA) stated in its monthly economic review for August 2022. Amid a revival in contact-intensive services and rebound in private consumption, the country’s economic growth is likely to be sustained in the months ahead. However, risks to growth and inflation trajectories persist as India is integrated with the rest of the world. The DEA further stated that watchful and prudent fiscal management and credible monetary policy is warranted for the country to fulfil its growth aspirations. Such policy measures will ensure borrowing costs for the government and private sector decline, facilitating public and private sector capital formation.