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India Confident Amid Global Economic Uncertainty Finance Minister Nirmala Sitharaman on Monday expressed confidence in India's economic resilience, stating that the country has sufficient fiscal space to support sectors affected by the escalating West Asia crisis. She also indicated that the Reserve Bank of India (RBI) has room to adjust interest rates if needed to counter global challenges. Her remarks come at a crucial time as the RBI's Monetary Policy Committee (MPC), led by Governor Shakti
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FAQ :
She expressed confidence in India's economic resilience and stated that the country has sufficient fiscal space to support sectors affected by global disruptions.
Yes, the Finance Minister indicated that the Reserve Bank of India has room to adjust interest rates if needed to counter global challenges.
The escalating conflict in West Asia is highlighted as a significant global concern, impacting energy supply chains and contributing to a more complex multipolar world order.
India's debt-to-GDP ratio is around 81%, which is among the lowest for large economies, reflecting disciplined fiscal management and providing India with more room to act compared to many other countries.
The government has reduced excise duty on petrol and diesel and provided customs duty exemptions on key petrochemical products to cushion the impact of rising global energy prices.
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