MUMBAI (Reuters) – India’s economy is likely to see downside risks to growth and upside risks to inflation, partly due to challenges in the country’s external sector as well as weather-related uncertainties, the finance ministry said on Monday.
“Going forward, several factors, such as weaker-than-expected oil supply, higher-than-anticipated demand from China, intensification of geo-political tension and unfavourable weather conditions,” may pose an upside risk for India’s inflation forecasts, the ministry said in its monthly economic review.
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(Reporting by Siddhi Nayak; Editing by Sonia Cheema)
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First Published: May 22 2023 | 1:29 PM IST
