“Without an extension of the imagination”: CEA NAGSWARAN rejects Trump’s note “Dead Economy”, says the numbers speak for itself

The chief economic advisor, Dr. Aggggas Nagsuran, said that India does not need to respond to the “dead economy” of US President Donald Trump because growth numbers speak for itself. He added that after -government recovery has become a template for other countries. CEA also said that the goods and services tax reform is a step forward towards India’s economic reform.

India is not a “dead economy”: CEA

Speaking to India today, Nageswaran said: “We must let the facts speak for themselves as they were, regardless of who says what. I do not think that we must surpass this special observation and do not want to respond to this because the facts respond in their own way.” He added: “Without an extension of imagination, argument or evidence, India can be classified as a dead economy. It is far from it. It is a dynamic economy.”

He said that the subsequent recovery in India and a set of financial wisdom and financial responsibility is a model that India was able to appoint in other countries. He said: “If you look at the expectations of the International Monetary Fund or to upgrade credit rating, this is more thanks and estimated than the hard work and progress we have achieved.”

CEA on Trump’s tariff

We also addressed the tariff concerns. He said that the exporters in sectors such as marine products, textiles, gemstones and jewelry would face a short -term hardship, but they were confident that India would pursue influence. India was also setting free trade agreements with many countries including Australia, the United Arab Emirates, the United Kingdom and the European Union.

GST changes: CEA

CEA NAGESWARAN said GST’s comprehensive reform is a major step forward on the economic reform journey in India. “First of all, the government, before reforms of the commodity and services tax in the same budget in February, gave a direct tax break for the middle class families that will kick this year … in other words, the taxes that individuals will pay on the direct tax side were extended.”

“So this comes more than that. So we should not forget that it is a very important repair meter that was already announced on February 1 this year … the average rate of good commodity and services, if anything over the years has decreased, from 15 percent if I am not wrong to 11 percent in addition to the average rate,” he said. “GST also has a lot of zero classified elements and a very small number of elements in the 28 percent category, and the number has decreased over the years.”

“It will put more money in the hands of families again in terms of available income, and it will contribute to a decrease in the inflation rate, which means that it also opens a space for the central bank to write down this and also reduces the cost of the inputs for companies at a time when they face external uncertainty,” he said in the interview.