‘India performing well compared to other nations’

INVsensexA UN expert said cautious macro economic policy, reduced inflation, and structural reforms have helped India to perform well in an environment of global economic slowdown.

According to the UN Economic and Social Survey for Asia and the Pacific 2016 report, the Indian economy is projected to expand by 7.6 percent in 2016-17 and grow to 7.8 percent in 2017-18.

UN official Sebastian Vergara said India’s macro economic policy in recent years has been cautious, that has been a positive development to provide a good framework to increase the sentiment of consumers, and the monetary policy has also played an important role in reducing inflation.

He said however that there are still some areas where structural reforms are seeing slow progress.

The report projected that inflation is expected to remain low in India and the region as a whole.