According to RBI Deputy Governor, the Russia-Ukraine War endangers India's economic recovery.

The Indian central bank expects that inflation will continue to rise in double-digits until the third quarter of the current financial year FY23 . The RBI announced that the continuing geopolitical events in Ukraine have stifled Indias economic growth .

New Delhi (India): The RBI announced that the continuing geopolitical events in Ukraine have stifled India's economic growth, making it increasingly difficult to control the country's economy as it continues to develop through multiple pandemic waves and multiple virus mutations in a row in May, while the Indian central bank expects that inflation will continue to rise in double-digits until the third quarter of the current financial year FY23.It is projected to grow to 7.4 percent in the second quarter.Around 75% of the increase in inflation estimates can be attributed to the food group, according to Mr Patra, who said that Indias external sector is well buffered with reasonably high reserves, a small current account deficit, and a modest debt burden relative to other emerging market economies, which he said is indicating that the country's CAD is going haywire in the forthcoming monetary policy committee report, which was published earlier this month.