<span style="color: #222222;">Vice President Venkaiah Naidu today expressed confidence that the Indian economy would rebound in the near future saying that the current slowdown was cyclical. </span><br />'' <br />'' <span style="color: #222222;">Inaugurating the 102nd annual conference of the Indian Economic Association at Raipur in Chhattisgarh, he said, it is true that the Indian economy was facing some challenges due to the decline in growth this fiscal. </span><br />'' <br />'' <span style="color: #222222;">However, he said, the country had faced similar slumps in the past in the wake of the East Asian financial crisis and global slowdown but bounced back with a higher growth rate every time. </span><br />'' <br />'' <span style="color: #222222;">Referring to the reforms initiated by the Central government including demonetization, introduction of GST, the Insolvency and Bankruptcy Code and the steps taken to curb black money, Mr Naidu asserted that they were aimed at making the economy more robust and more resilient.</span><br />'' <span style="color: #222222;"><br />'' Observing that agriculture was the mainstay of the Indian economy, the Vice President cautioned that various waivers and subsidies would be unsustainable in the longer run.</span><br />'' <span style="color: #222222;"><br />'' Governor Anusuiya Uikey, Chief Minister Bhupesh Baghel and President of International Economic Association Professor Kaushik Basu were also present on the occasion. </span><br />'' <br />'' <span style="color: #222222;">During the three-day Annual Conference, the focus will be laid upon issues like Trends and Prospects of Faster and Sustainable Economic Growth, Fiscal federalism, livelihoods and environment.</span><br />''