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India’s economic recovery next fiscal was pinning its hopes on a jump-start in investments. But the Russia-Ukraine conflict has messed with this plan.
The third Covid-19 wave had barely subsided, when the war erupted. That has spooked crude and commodity prices globally and brought in tow a host of new uncertainties for all.
India is now looking at possibly lower growth, higher inflation, reduced leverage with fiscal and monetary policy, and lower opportunities for trade.
A protracted conflict will spell a prolonged impact, and there’s no predicting how disruptive.
While we retain our gross domestic product (GDP) growth forecast at 7.8 per cent for
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