Economic Affairs Secretary Ajay Seth has reassured that India’s economic growth is not facing any significant downside risks despite predictions of a slowdown in the September quarter. Speaking on the economic outlook, Seth emphasized the resilience of the Indian economy, citing factors that could help cushion potential setbacks.
Economic Slowdown Expected in September Quarter
India’s economy is expected to experience a slowdown in the September quarter due to various global and domestic factors. However, despite the slowdown, Seth highlighted that the country’s economic fundamentals remain strong.
Growth Projections Remain Stable
Ajay Seth emphasized that the government’s growth projections for the year remain largely intact. He pointed to the ongoing structural reforms, robust domestic demand, and the recovery in key sectors as factors that will help sustain growth in the medium term.
Factors Shielding India from Economic Risks
While global economic conditions, including inflationary pressures and geopolitical tensions, could impact growth, Seth assured that India’s economic framework is resilient. He noted that India’s diversification in sectors and increased investments in infrastructure would contribute to minimizing risks.
Optimistic Outlook Despite Global Challenges
In conclusion, Economic Affairs Secretary Ajay Seth reaffirmed that India’s economy is poised for steady growth. While there may be challenges in the short term, the long-term prospects for the economy remain positive, with the government continuing to implement measures to ensure sustainable growth.
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