Global Uncertainty Rising, Need To Maintain 'Margins Of Safety', Says CEA Anantha Nageswaran

Global uncertainty has been rising after the recent developments in the United States.

CEA Anantha Nageswaran said governments, businesses, and individuals should keep 'margins of safety' in fiscal, corporate, and savings account planning.

He said the global growth estimates of the International Monetary Fund given in January look outdated.

India's gross domestic product growth expected to be 7% in the current fiscal year.

Nageswaran said public sector capex has been rising in the last several years and has gone up by three times.

The chief economic advisor in the finance ministry also said that the nominal GDP growth for the next fiscal has been assumed at 10.5%, and though India remains optimistic, it is aware of the challenges that confronts both developing and advanced economies.