BREAKING NEWS: India Experiences Wave of Uncertainty Amid Global Economic Turmoil

Mumbai (PTI): The global slowdown has been felt in India with growing worries over its impact on economy and fiscal growth.

[Image Source: INDIA TV Breaking News]

As the nation grapples to cushion the economic blow, citizens are bracing themselves for potential instability.

The ongoing trade tensions between major economies have triggered concerns about reduced demand for Indian products, while supply-side issues are exacerbating production bottlenecks.

The National Statistical Office reported that industrial growth slowed down to a five-year low of 0.7% in April-June, casting a shadow on the nation's economic prospects.

"We expect a softer-than-expected inflation outlook given India's lower-cost structure and robust service sector," pointed out Aditi Mehta, an economist at the Bombay Chamber of Commerce.

However, economists point to several risks that could complicate India’s fiscal trajectory: the rising costs of producing crude oil and gas, dwindling foreign capital inflows, and declining revenue from non-traditional sources like remittances and royalties.

The government has reassured citizens that it is taking proactive measures to maintain economic stability.