India has entered a new phase of economic maturity with faster growth, lower inflation and far fewer shocks, said Poonam Gupta, deputy governor of the Reserve Bank of India (RBI).
Dr. Gupta delivered the CDS Foundation Day lecture on ‘India’s Growth Prospects: Last Four Decades to Present’ here on Friday (February 20, 2026). Average 10-year GDP growth climbed from 5.7% in the 1980s to 7.7% in the years after COVID-19, while India’s share of world GDP more than doubled to 3.5%, CDS said in a statement.
Inflation, once a chronic double-digit problem, now hovers around 5%. Bank bad loans fell to just 2.1% – among the lowest in emerging Asia.
What sets India apart, said Dr. Gupta, is not just the growth itself, but its increasing stability. On the fiscal front, post-pandemic debt and deficits are on the way down, and capital spending now accounts for nearly 20% of government spending, a sign of improving quality, not just quantity.
Dr. Gupta presented meritorious CDS awards to the students on the occasion. C. Veeramani, Director, CDS, presided over the function.
Published – 20 Feb 2026 21:02 IST