India's Ministry of Economic Affairs said in its September monthly report that geopolitical tension and high crude oil prices may increase imported inflationary pressure. Higher holiday demand and investment costs may put short-term upward pressure on prices. The central bank's open market operation may help maintain a balanced financial situation and curb excessive demand side overheating. The government's active supply-side and market measures may help contain upward risks and mitigate the effects of temporary price pressure. The external sector remained resilient, supported by strong service exports, remittances, foreign exchange reserves and capital inflows. The domestic economy continues to show resilience in a challenging global environment.

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