Overview

• V Anantha Nageswaran said India has halved its fiscal deficit ratio since 2021 through post‑pandemic fiscal prudence.
• He described India as the fastest‑growing G20 economy and rejected the label of a "dead economy" as inconsistent with evidence.
• He cited IMF forecasts and a recent S&P sovereign rating upgrade—the first in two decades—as external validation of progress.
• He said next‑generation GST reforms will reduce indirect taxes on common consumption items, lower business input costs, and lift household disposable income.
• He acknowledged short‑term hardship for exporters in marine products, textiles, and gems and jewellery from tariff changes, while highlighting ongoing FTA efforts with Australia, the UAE, the UK, and the EU.