RBI MPC must raise rates as inflation and external risks rise
· economictimes.indiatimes.com
India's economy is currently thriving, boasting a growth rate exceeding 7%, bolstered by diverse sectors and enhancing productivity levels. Nonetheless, escalating oil prices and geopolitical instability present significant threats to economic stability and rising inflation. The Reserve Bank of India faces calls to increase interest rates to effectively address inflationary pressures. Furthermore, the current capital account surplus is insufficient to cover the current account deficit, reflecting persistent economic hurdles.
All in all, the Indian economy has done exceptionally well, notwithstanding the multiple shocks it has faced. It is advancing ahead on a resilient growth equili...