Though there are indications of hardening crude oil prices and supply chain bottlenecks, India's strong performance stands out even as global growth shows a "sluggish" trend, the ministry says
There has been a stable downward movement in core inflation and moderation in food prices; core inflation for FY24 lowest since FY21, says the ministry
Some reprieve has come on the merchandise exports during October 2023, says the finance ministry.
In the coming months of FY24, the food inflation is expected to be low owing to the expected bumper harvest of food grains in FY23 and brightened prospects for the kharif season.
The ministry also mentioned that the downside risk to the official forecast of 6.5% for real GDP growth in FY24 dominate upside risks.
Absence of a sustained and meaningful reduction on food and energy commodities will cause current account deficit to widen in FY23, says finance ministry.
