Indian economy in good shape despite fears of recession: Finance Ministry

New Delhi, 24 November (His). Despite the aggressive stance of monetary policy at the global level, the Indian economy is in a better position. India is poised to grow at a moderately fast pace in the coming years on the back of macro-economic stability. The Finance Ministry has given this information in the monthly economic […]
 


Indian economy in good shape despite fears of recession: Finance Ministry

New Delhi, 24 November (His). Despite the aggressive stance of monetary policy at the global level, the Indian economy is in a better position. India is poised to grow at a moderately fast pace in the coming years on the back of macro-economic stability. The Finance Ministry has given this information in the monthly economic review released for October.

According to the report released by the Finance Ministry on Thursday, with the arrival of Kharif crop, inflationary pressure will ease in the coming months. Along with this, along with improving business prospects, employment opportunities will also increase. The ministry has warned in its monthly economic review that US monetary tightening is a risk for the future.

According to the report, due to the current global situation, things like fall in stock prices, weakness in currencies and higher bond yields can happen. This could also increase the cost of borrowing for many governments around the world. According to the Monthly Economic Review, fears of a global recession may dampen expectations of India’s export business. However, an active investment cycle coupled with resilient domestic demand, a sound financial system and structural reforms will provide momentum to economic growth going forward.

Indian economy in good shape despite fears of recession: Finance Ministry