Macroeconomic indicators - India remains 2nd fastest growing economy.

Mr Suresh Tendulkar Prime Minister's Economic Advisory Council's chairman said that "India's economic fundamentals are quite robust and its economy remains the second-fastest growing one in the world."

He said that India is not experiencing a recession as other advanced economies and its economy would not be affected to the same extent as some other emerging Asian economies.

According to him “The financial meltdown in advanced economies has been very serious. The depth of recession in advanced countries has been greater than anticipated a few months back, adding that export linked sectors in India are bound to be affected much more than anticipated earlier owing to the depth of recession in advanced economies.”