India's economic growth faces two major risks and two key challenges

Having successfully tackled internal economic instability, it now faces external threats to growth

The finance ministry’s latest Review of the economy, which came out on September 26, exuded confidence about the Indian economy being able to meet the Economic Survey’s growth forecast of 6.5-7 per cent in FY25. Some two weeks later, the prospect of the forecast being upended by global events is very real.

Oil prices are hovering around $80 a barrel for Brent crude, an increase of 16 per cent from the September low.  The Indian economy can take the increase in its stride. However, if events in the world at large were to push the price of oil