"Brexit is a very sad development. It has consquences for both the United Kingdom and Europe," he said while delivering keynote lecture on 'Overview of Indian Economy' at an international conference being held in Patna as part of the Asian Development Research Institute Silver Jubilee Celebrations.
"We are able to deal with it as we've solid macroeconomics," he said.
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The decision has reversed the experiment by the European countries for togetherness as a collective entity, he said, adding the elites would now be forced to recalibrate and adjust.