Indian economy doing better than others, says FinMin

Tribune News Service

New Delhi, February 11

The Finance Ministry today tried to assuage investor concerns in the midst of global turmoil with the message that the Indian economy is doing well and the performance of domestic stock markets is not as bad as that of other countries.

Attributing the plunge in the stock markets to global factors, Economic Affairs Secretary Shaktikanta Das said the government was prepared to deal with the challenges and stressed that 7.6% GDP growth projected for the current fiscal was “noteworthy and significant”.

“Over the past few days, the NSE and BSE have experienced a lot of volatility. The decline in our markets is comparable to the rest of the world. India is not an exception, but it is better off than many other markets,” he said.

The Revenue Secretary on his part assured the investors that “government is keeping a close watch on international and global development and government is prepared to deal with all these challenges.”