April 8, 2022
The Russian Invasion of Ukraine, the pandemic and other geopolitical conflicts have caused an impact on food, fertilisers and crude oil prices
The impact of global upheavals on the Indian economy is contingent on how long the dislocations in the energy and the food markets persist in the financial year
The Finance Ministry anticipates that such shocks is transient and will not have a big effect on the country’s economic growth and inflation
Government initiatives increased participation of the labour force, and the declining unemployment rate is seen as key to the Indian economy’s growth
A report by the Finance Ministry has stated that the government-led GatiShakti program and the production-linked incentive schemes are expected to neutralize the economic impact and enable global investments that will accelerate the post-recovery growth of the Indian economy.
The pandemic and geopolitical conflicts have had an adverse impact on food, fertilisers, and crude oil prices and have restrained the overall global economic growth. The impact of such global upheavals on the Indian economy is contingent on how long the dislocations in the energy and the food markets persist in the financial year and how adept India’s economy is at softening its effects. The Finance Ministry anticipates that such shocks are transient and will not have a big effect on the country’s economic growth and inflation.
Government initiatives such as the PM Garib Kalyan Yojana, which has been extended for another six months, increased participation of the labour force, and the declining unemployment rate is seen as key to ensuring India’s growth path is inclusive.
