Union Finance Minister Arun Jaitley has said that India has emerged among the few large economies in the world with a promising economic outlook. In his opening remarks during the 14th Financial Stability and Development Council Meeting with the Financial Sector Regulators in New Delhi Wednesday, he said, the economic growth is moving in the right direction. The Minister said, the pace of economic growth is expected to gather momentum in the coming quarters, once the impact of the on-going economic and structural reforms takes the firm root. He said, India has achieved macro-stability to large extent but the growth moderation in the global economy and policy uncertainties among advanced countries pose risk to this outlook. The council reviewed the major issues and challenges facing the economy.