Addressing the third annual meeting of Governors of Asian Infrastructure Investment Bank, Prime Minister Narendra Modi said that the country's macroeconomic factors have remained strong and the government is committed to the path of fiscal consolidation.
He also said that despite the prices of crude oil, inflation remained in its fixed range. He said that the Indian economy of 2600 billion dollars has emerged as an attractive place in the global economic landscape. Up 7.4 percent in the current financial year.
This statement of Prime Minister has come at a time when retail inflation rose to 4.87 per cent in May, which has remained above the deficit of 4 per cent for the seventh consecutive month. He said that in the form of GDP percentage, government debt has consistently declined.
He said that the economic resurgence of India reflects the growth of other parts of Asia and now India has become the leader of that growth.
