Key Points
The comments from India's finance ministry came in an annual economic report that flagged risks in FY2024 stemming from geopolitical issues and the impact of the El Nino weather phenomenon..
On what is working for Indias economy, the ministry said that it sees strength in the countrys domestic demand.iStock..
The Indian economy appears to grow more durably than before, however, a host of external factors currently pose a threat to the country's growth momentum, the Finance Ministry said in its annual review report on Thursday...
That said, external factors like escalation of geopolitical stress, enhanced volatility in global financial systems, sharp price correction in global stock markets, El Nino, and modest trade activity and FDI inflows are likely to constrain Indias pace of economic growth in the ongoing fiscal, it added...
"The debt leverage is now on a glide path which will become more pronounced as the economy continues to defy global headwinds and grow above the pre-pandemic rate," the report said.. FDI flows to India bore the brunt of inflationary pressures and tighter monetary policy abroad, the ministry noted..
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