Structural reforms keep economic recovery on course, says DEA secy

India today is focusing on infrastructure led capital spending aimed at enhancing productivity and employment while ensuring fiscal prudence with 'targeted' interventions: Ajay Seth

India’s economic recovery remains on course, supported by key structural reforms, despite exogenous shocks and challenges, Economic Affairs Secretary Ajay Seth said on Thursday.

Speaking virtually at the annual meeting of the Asian Development Bank (ADB), Seth said India’s response has emphasised supply-side reforms rather than a total reliance on demand management. “India is focusing on infrastructure led capital spending aimed at enhancing productivity and employment while ensuring fiscal prudence with ‘targeted’ interventions,” he added.

S&P Global Ratings in its latest global macro update said India remains an outlier, having emerged from the pandemic with stronger corporate balance sheets as