Normal rains, stable food prices to firewall India, says finance ministry review
NEW DELHI:The Union finance ministry on Friday exuded confidence about India's economic resilience, amid global conflicts and commodity price spikes. Positive indications in the farm sector like the prediction of a normal monsoon and stabilizing food prices will help the country “firewall against any adverse pressures" from such external factors in the coming months, the ministry's monthly economic review said.The April review by the ministry's Department of Economic Affairs said that while a normal monsoon will stabilize food prices, strong macroeconomic buffers will help the economy navigate external headwinds smoothly and continue the growth momentum of the previous fiscal year (FY24).According to government estimates, India is expected to report a GDP (gross domestic product) growth of at least 7.6% during FY24, which would be the fastest in any major global economy.
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