The Indian economy continues to remain the second-fastest growing economy in the world.
``India`s economic fundamentals are quite robust and its economy remains the second-fastest growing one in the world``, said Suresh Tendulkar, chairman, prime minister`s economic advisory council`s (PMEAC).
India is not experiencing a recession as other advanced economies and its economy would not be affected to the same extent as some other emerging Asian economies, he said.
On micro, small and medium enterprises (MSMEs), Tendulkar said that the present economic slowdown would test the strength of the sector.
``Rising interest rates in the recent past has further accentuated the credit crunch for MSME entrepreneurs`` he added.
According to him, the financial meltdown in advanced economies has been very serious.
He described the foreign exchange reserve position in the country as `comfortable` despite foreign institutional investors (FII) outflows triggering some depletion.
The current account deficit would be well within limits, but it might be wider than in the earlier years, he said.
Thanks to http://www.myiris.com
``India`s economic fundamentals are quite robust and its economy remains the second-fastest growing one in the world``, said Suresh Tendulkar, chairman, prime minister`s economic advisory council`s (PMEAC).
India is not experiencing a recession as other advanced economies and its economy would not be affected to the same extent as some other emerging Asian economies, he said.
On micro, small and medium enterprises (MSMEs), Tendulkar said that the present economic slowdown would test the strength of the sector.
``Rising interest rates in the recent past has further accentuated the credit crunch for MSME entrepreneurs`` he added.
According to him, the financial meltdown in advanced economies has been very serious.
He described the foreign exchange reserve position in the country as `comfortable` despite foreign institutional investors (FII) outflows triggering some depletion.
The current account deficit would be well within limits, but it might be wider than in the earlier years, he said.
Thanks to http://www.myiris.com
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