NEW DELHI: Resilient progress, sturdy financial exercise indicators, price stability, and regular exterior sector efficiency proceed to help the nation’s promising financial present amid unsure world circumstances, the finance ministry’s month-to-month financial report mentioned on Thursday.
The report mentioned that regardless of world challenges, India stands out with its sturdy financial efficiency, highlighting broad-based progress throughout sectors and asserting its pivotal position in supporting the world progress trajectory.
It mentioned that world financial progress restoration is underway in main economies, though disparities persist and pointed to among the dangers nonetheless lurking. “While the leading indicators signal increased economic activity and geopolitical tensions have eased slightly, recent conflicts continue to pose risks,” mentioned the report.
It mentioned that govt and RBI’s efforts to fight price rise, together with calibrated coverage charges, strengthening meals buffers, and easing imports, have ensured efficient inflation administration.
“Consequently, retail inflation in FY2023-24 witnessed a significant decline, reaching its lowest level since the Covid-19 pandemic, with core inflation dropping to 3.3% in March 2024. Further, a predicted above-normal monsoon in 2024 bodes well for a good harvest, easing inflation concerns,” mentioned the report for March ready by the division of financial affairs.
It cautioned that world inflation stays contained general and has declined in most areas, however the latest uptick in inflationary pressures throughout nations together with persistence in core inflation warrants consideration. Core inflation refers to inflation minus meals and gas.
The report mentioned that regardless of world challenges, India stands out with its sturdy financial efficiency, highlighting broad-based progress throughout sectors and asserting its pivotal position in supporting the world progress trajectory.
It mentioned that world financial progress restoration is underway in main economies, though disparities persist and pointed to among the dangers nonetheless lurking. “While the leading indicators signal increased economic activity and geopolitical tensions have eased slightly, recent conflicts continue to pose risks,” mentioned the report.
It mentioned that govt and RBI’s efforts to fight price rise, together with calibrated coverage charges, strengthening meals buffers, and easing imports, have ensured efficient inflation administration.
“Consequently, retail inflation in FY2023-24 witnessed a significant decline, reaching its lowest level since the Covid-19 pandemic, with core inflation dropping to 3.3% in March 2024. Further, a predicted above-normal monsoon in 2024 bodes well for a good harvest, easing inflation concerns,” mentioned the report for March ready by the division of financial affairs.
It cautioned that world inflation stays contained general and has declined in most areas, however the latest uptick in inflationary pressures throughout nations together with persistence in core inflation warrants consideration. Core inflation refers to inflation minus meals and gas.
