The war and our economy

 OECD (Organization for Economic Cooperation and Development) has forecasted the growth for the Indian economy to be 6.9% for the FY23. The main reasons for the fall in the growth of the economy from 8.7% in the FY22 are strong government spending and weak external demand. Exports are proving to be costly hence, the export game in India is seeing a downfall. The government is spending a huge sum on importing coal, crude, fertilizers, cooking oil and providing subsidies in top of that. The strong monetary policy execution is sucking in the money from the economy in order to reduce the now prevalent excess demand for consumer goods in the market. All of this to curb inflation that is eating up our economy. The growth for the FY24 is forecasted to see a further fall up to 6.2%.