Brexit a sad development, but not to affect India: CEA Arvind Subramanian

"We are able to deal with it as we've solid macroeconomics," CEA Arvind Subramanian said, delivering the keynote lecture on 'Overview of Indian Economy' at an international conference.

By: PTI | Patna | Published: June 26, 2016 2:14 pm
Arvind Subramanian, CEA Arvind Subramanian, Raghuram Rajan, Brexit, Indian economy news, brexit india, business news Chief Economic Adviser Dr Arvind Subramanian.

Union government’s Chief Economic Advisor Arvind Subramanian on June 26 said Brexit was a sad development but India would not be affected by it due to its solid macroeconomics.

“Brexit is a very sad development…it has consquences for both the United Kingdom and Europe,” he said while delivering keynote lecture on ‘Overview of Indian Economy’ at an international conference being held in Patna as part of the ADRI Silver Jubilee Celebrations.

“We are able to deal with it as we’ve solid macroeconomics,” he said.

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Stating that Brexit is a significant development with serious political and economic consequences for both the UK and Europe, Subramanian said it was a landmark moment in the history since World War II.

The decision has reversed the experiment by the European countries for togetherness as a collective entity, he said, adding the elites would now be forced to recalibrate and adjust.

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  1. A
    Jun 27, 2016 at 1:25 am
    If its good for India then how is it sad my Subramanium. Maybe swamy is correct - your heart is outside India.
    1. S
      Sanket Sudke
      Jun 26, 2016 at 12:53 pm
      The government said something during the Lehman crisis and we all know what happened. Whenever the government says that there is no reason to panic it means that we must panic.
      1. D
        Dr. Nath
        Jun 26, 2016 at 2:46 pm
        Brexit was highly needed as otherwise UK has been polluted by immigrants and ideny of culture and political life are in threat.The policy of EURPEAN UNION towards immigrant has long been keeping boarders of many countries fully porous because of which the dangers from ISIS extremists have been increasing.Without exit from EU all other coutry are in stakeor in threatfrom ISIS etc.The peop[le of UKhave done right and ;therefore, totally disagree with the CEA who is no authority being only a member of the school of economics.
        1. Studious Al
          Jun 26, 2016 at 9:35 am
          Brexit will effect every corner of the world, it will take time to feel effect. "Jaise khane main achar kitna acha hota hai lekin khane ke bad subah pata chalta hai, abhi subah huyee nahin hai"