Oil prices a concern but not alarming yet: Finance ministry

The Indian government, in its August economic report, expressed comfort with a projected 6.5% growth for 2023-24. It acknowledged concerns about rising global crude oil prices and the August monsoon deficit but highlighted positive factors like corporate profitability, private sector investments, and construction activity. While it recognized risks like a stock market correction and geopolitical developments, it believed that the impact on India's economic activity would likely be limited.

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