India has so far shown considerable resilience to the rise in energy prices, the International Monetary Fund (IMF) said, even as it monitors the impact of higher oil costs on the economy ahead of its next round of growth forecasts in October.
Julie Kozack, spokesperson for the IMF, said higher energy and oil prices typically put pressure on the balance of payments of countries that depend on energy imports and can also weigh on their fiscal positions. India, however, entered the latest shock from a relatively stronger economic position, she said.
