Shaktikanta Das Highlights 5 Pillars Behind India’s Economic Resilience

Shaktikanta Das outlines the five pillars that have strengthened India’s macroeconomic stability and resilience in recent years. Speaking at the Kautilya Economic Conclave 2026, he highlights flexible inflation targeting and monetary policy credibility, fiscal prudence and quality of expenditure, tax reforms and market integration, a stronger financial sector, and prudent management of the external sector. Das says the flexible inflation targeting framework adopted in 2016 helped India navigate major shocks including COVID-19, the Ukraine war and conflicts in West Asia. He also highlights the government’s fiscal consolidation roadmap, GST-led formalisation, improved banking-sector health and resilient external-sector indicators. Gross NPAs fell to 1.68% in June 2026, while India’s current account deficit stood at 0.6% of GDP in FY26.