CEA warns of looming oil and rate pressures in India’s H2, sees Q2 growth at 7.3%

Chief Economic Adviser V Anantha Nageswaran noted that the second half of the fiscal year would be challenging. Rising oil prices and increased global growth risks create a tougher economic environment for India. The economy saw a 7.8% GDP growth in the first quarter, backed by strong indicators like GST collections and credit growth. Upcoming data suggested a GDP growth rate of around 7.3% for July and August.