New Delhi, Dec. 15 -- India's economy has moved from a state of fragility in 2013 to become the fastest growing major economy for multiple years now, showing its transition from external vulnerability to external resilience, finance minister Nirmala Sitharaman told the Parliament on Monday.

Replying to the debate on the first supplementary demands for grants in the Lok Sabha, the minister also said that collective work was needed to reduce debt at central and state levels.

Sitharaman told the House that India's current account deficit was only 0.6% of its gross domestic product (GDP) in FY25 and that foreign exchange reserves are not dependent on volatile capital flows.

The minister said that in 2013, CAD was at a crisis level of 4.8% ...