Five months after the Iran war raised fears of an inflation spike and an economic downturn, Indian officials are sounding more confident as the worst of those concerns have so far failed to materialize.
Inflation picked up slightly last month but remained within the Reserve Bank’s 2%-6% tolerance band, data Wednesday showed. Consumer demand has also held up, with vehicle sales at record levels, credit growth climbing to a two-year high and GST receipts rising at a double-digit pace.
