Economic Advisory Council to the Prime Minister (EAC-PM) member Surjit Bhalla on Tuesday said the four years of the Modi Government are the ‘best years’ of the Indian economy and favoured more key reforms needed to be undertaken.
Bhalla also said although the macroeconomic parameters have shown good performance in the last four years, there are concerns about bad loans, and part of the problem can be attributed to the RBI Monetary Policy Committee’s (MPC) decision to keep interest rates high.
“If you look at any macro parameters then these (Modi government’s four years) are the best four years of the Indian economy...So without a doubt, the macro performance is better, that is not to say everything is working or everything is fine,” he said in an interview.
The EAC-PM member also observed that the rupee fall has not been beneficial for the Indian exports.