After S&P & Fitch, ADB raises India's growth aim to 7% but El Nino clouds food story

India's economy is demonstrating resilience, leading to raised growth forecasts from institutions like the Asian Development Bank. However, a strengthening El Nino poses risks to agricultural yields and could raise inflation levels significantly. Retail inflation has recently exceeded the Reserve Bank of India's target, raising concerns for household budgets. The Reserve Bank of India may need to maintain tighter monetary policy due to external shocks.