India's Economic Success: A Model of Stability and Growth

India's economy has become a beacon of growth and stability, according to the Reserve Bank of India's Deputy Governor, Poonam Gupta. In her address at the 14th Foundation Day Lecture of the Centre for Development Studies, she highlighted the Indian economy's trajectory as one characterized by high and sustained economic expansion.

The nation's growth story is underpinned by robust macroeconomic stability, consistent policies, and a diverse demand base, Gupta noted. Contrasting sharply with other emerging economies, India has averaged a growth rate rising from 5.7% in the 1980s to 7.7% recently, marking it as a standout performer.

Gupta also pointed to the remarkable progress in key macroeconomic indicators, including a tenfold increase in per capita income and a healthier banking sector. These developments have fortified the economy, aiding the 'Viksit Bharat 2047' vision and creating a platform for sustained future successes.