RBI warns of potential demand slump due to El Niño and poor monsoon
RBI Governor Sanjay Malhotra has raised concerns that insufficient and erratic southwest monsoon rains, coupled with El Niño, might negatively affect the agricultural sector and rural consumption. While the central bank has lowered its inflation projection for FY27 to 5% following a decline in price pressures, it also pointed to potential threats from fluctuating food costs, unstable crude oil prices, and unpredictable rainfall that could hinder economic growth.
by shortkt.com✓