India better placed than most to face turmoil, says RBI report

'Core inflation defies softening of input costs'

The Indian economy has remained resilient amidst high tides of uncertainty and is better positioned than many parts of the world to head into a challenging year ahead, the Reserve Bank of India (RBI) said in its State of the Economy report on Tuesday. “Even as global growth is set to slow down or even enter a recession in 2023…India has emerged from the pandemic years stronger than initially thought,” it said.

The report said a direct impact of the US banking crisis on India’s economic activity could be limited, but markets were bracing for tighter financial conditions. “This could present