Global Economy Poised for Soft Landing, Says India's Finance Minister

Union Finance Minister Nirmala Sitharaman announces that a 'soft landing' of the global economy is increasingly likely. Despite coordinated actions between countries, economies are not significantly picking up yet. Sitharaman highlights challenges such as fiscal deficits and uneven demand recovery.

Union Finance Minister Nirmala Sitharaman expressed optimism about a potential 'soft landing' for the global economy, despite recent stresses. She attributed this possibility to coordinated efforts between countries and financial institutions.

However, Sitharaman warned that while economies aren't declining further, they aren't gaining momentum either. She noted that demand in advanced economies remains subdued, affecting global trade recovery.

Highlighting fiscal challenges, she acknowledged that many countries have borrowed heavily during COVID-19. Sitharaman expressed confidence in India's growth but posed questions regarding global investment reluctance.

(With inputs from agencies.)