Growth sustained by domestic resources, says ex-RBI deputy governor Michael Patra
Tuesday, 2 September 2025 () Michael Patra, former RBI deputy governor, stated that India's economic growth is primarily fueled by domestic resources, making it less reliant on foreign capital. He highlighted that this self-sufficiency is a significant advantage, as the country generates its own resources for growth. Consequently, India's current account deficit remains at a manageable 1% of GDP.
Michael Patra highlighted corporate India's insufficient investment as a hurdle to exceeding 8% growth. Demand uncertainty deters firms, while consumption and... IndiaTimes
Tuesday, 2 September 2025 ()
