"Silly" To Compare Sri Lanka's Economic Crisis With India: Former NITI Aayog Vice-Chairman
NDTV
Former NITI Aayog Vice-Chairman Arvind Panagariya on Sunday said it would be 'silly' to compare the economic situation of Sri Lanka with India.
Former NITI Aayog Vice-Chairman Arvind Panagariya on Sunday said it would be 'silly' to compare the economic situation of Sri Lanka with India.
However, lessons can be learnt from the economic crisis in the island nation.
Mr Panagariya, in an interview with PTI, further said since the 1991 balance of payments crisis, successive governments have managed the macroeconomy conservatively.
He pointed out that in the case of India, fiscal deficits have not been allowed to get out of hand, the exchange rate has been allowed to depreciate to keep the current-account deficit low, monetary policy has been restrained to keep inflation low, and the opening of financial capital flows has been done in a calibrated fashion.
