India faces ‘stiff’ external challenges, can’t rest on growth laurels: finance ministry review
India's finance ministry warned of a "stiff challenge" in attracting capital flows amid global turmoil, emphasizing the need for continuous economic vigilance. Despite being the fastest-growing major economy, with projected growth of 6.8-7% this fiscal year, the ministry highlighted external pressures like rising oil prices and bond yields. Policymakers must earn growth every quarter, as net foreign direct investment rose 38% to $13.4 billion from April to July.