MUMBAI: RBI deputy governor Poonam Gupta said that despite multiple shocks, India’s inflation is likely to remain within the target band, unlike several advanced economies where inflation is running above target and may require higher interest rates. She also said that there was scope for the rupee to appreciate from current levels as was being anticipated by analysts following the special scheme which attracted over $133 billion from non-resident deposits.Speaking at the SBI Banking and Economics Conclave on Wednesday, Gupta said: “Advanced economies are nearly twice the target levels they have set. US was close to 4%. India is entering this crisis much better.” She cautioned that countries would respond differently to the shocks, depending on their circumstances.Gupta said India had faced a wider range of shocks than most emerging economies over the past year and a half, including high US tariffs, oil supply disruptions, El Nino and capital outflows linked to the global AI boom. Yet, the economy had emerged “largely unscathed, and perhaps even stronger structurally”. India’s growth was the highest among its peers, while inflation remained anchored, fiscal consolidation continued and the financial sector had become more resilient, she said. Gupta said India had also fared well during the energy shock despite its dependence on imports. Unlike many other economies, India saw little rationing of supplies, which helped prevent panic and limited the economic cost of the shock.She said India had maintained fiscal prudence instead of trying to stimulate the economy beyond its productive capacity. IMF has projected that India’s public debt as a proportion of GDP would decline by 5.6 percentage points between now and 2031, in contrast to most other countries.