The outlook for the Indian economy for the current financial year 2023-24 remains “bright and is solidly underpinned by strong domestic fundamentals” even as there are significant headwinds and fresh challenges from adverse geopolitical turns and volatile crude prices, the Finance Ministry said in its monthly economic review for September on Monday.
The report noted that headline inflation has eased and remained within the upper tolerance limit of the medium-term target of the Reserve Bank of India (RBI) at 5 per cent in September indicating that the increase in inflation during July-August was only temporary, caused by the seasonal and weather-driven supply constraints in a few food items.
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