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Sambit Patra asked: Are we compromising on financial security, on the advent of a pro-liberalised FDI structure? Are we that dependent on rest of the world? Comment

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  • N. S. Sisodia replies: No, Sir.
    India’s approach to liberalization has been gradual and measured; and its prudential regulation in the financial sector cautions.
    On the whole, our economy and the financial sector remain robust, with the principal challenges being fiscal health and deficient social and economic infrastructure.
    While we are not ‘dependent’ on other countries, our measured integration with the global economy has helped our economic growth.
    FDI can help provide resources to finance our huge development needs and accelerate growth.
    In brief, an open economy with proper regulation, economic reforms which promote inclusive economic growth and resolute efforts for meeting internal challenges on fiscal and social and infrastructural front should keep us financially secure.