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.
- Possibility of three instead of four GST rates, a useful debate: Arvind Subramanian
- Next CEA should be one who believes in Indian ethos, values, says RSS affiliate
- CEA Arvind Subramanian stepping down, says reasons personal
- Leaving CEA job for very compelling reason; will leave by early September, says Arvind Subramanian
- CEA Arvind Subramanian quits: Brightest fleeing sinking ship, minister breaking news on Facebook, says Rahul Gandhi
- Arun Jaitley bids Arvind Subramanian goodbye: Read his full Facebook post here
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.