The Indian Ministry of Finance revealed that there are threats to the economy to the outlook far, from the fears of the Federal continuing to tighten interest rates and high energy prices, noting that foreign capital flows can be damaged if the United States continues to raise interest.
On the other hand, unfair global economic expectations will work to cool exports, which will have an impact on the trade balance of the nation, according to the Ministry of Finance.
The Indian economy’s expected growth was downgraded by the International Monetary Fund by 0. 6 percentage points to 6. 8% for the year ending in March 2023, the second-largest downgrade among major economies after the United States.
The Indian rupee has dropped more than 10% versus the dollar so far this year, reaching its lowest level ever.
Inflation in India is hovering around 7%, which is higher than the target scope of the central bank of 2 to 6%..
India cautions the American government not to keep raising interest rates.
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