Thread by @MitaliLive

Quick thread on 2022, Ukraine and India
Q: Why does it feel like everything's falling apart since Ukraine ?
A: Things were already pretty bruised. Ukraine has ripped the band-aid off 1/n

Link to my story : thewire.in/economy/the-uk…
#UkraineRussianWar #India @thewire_in

Inflation is now a full-blown problem. Estimates indicate that EVEN if the central government were to cut fuel taxes average CPI inflation for FY’23 could shoot past the RBI’s plimsol line of 6.0%. #inflation #Crude #India #UkraineRussianWar

Growth is now also in question. ICRA sees “large downside risks” to its 8% GDP target. Nomura says there’s downside risks to their GDP growth outlook (7% for 2022), HDFC’s GDP growth forecast might see a further downward revision to 7.3-7.5%.
#India #CrudeOil #Growth #Ukraine️

The rupee had a miserable 2021, having an even worse time in early 2022. Stock market outflows aren’t helping - FIIs sold shares of almost $1 billion for three consecutive days this month. On March 8, they sold an astounding $ 1.05 billion in one trading session. #Rupee

Remember our jobs crisis? Still around. CMIE’s running unemployment rate for March at 7.8%. Of course states like Rajasthan and Haryana are clocking a terrifying 30% plus tick, but this is not new news. #India #unemployment #UkraineRussianWar

2 choices. Take it on the chin, engineer serious monetary & fiscal recalibration. Or, brazen it through and leave things in an ‘as -is’ state. To quote Warren Buffett “Only when the tide goes out do you discover who’s been swimming naked.” /end of thread.
#Crude #Rupee #Ukraine️