Indian economy poised to revive faster
Reserve Bank of India (RBI) Governor D. Subbarao said in an interview to BBC World Broadcast in London that the Indian economy will likely revive faster than that of other countries.
The RBI Governor is in London to attend the Group-20 meet. He said that India could be an engine for global economic revival as it would recover ahead of the world and it would be sharp and rapid.
According to him, though the slowdown has hit the Indian economy in financial and manufacturing sectors, India’s financial sector still remains sound, safe and well-capitalised because of the prudent policy actions initiated by the Government of India and the RBI.
The Indian government has already announced two stimulus packages, while the RBI has slashed key interest rates several times.