The Ukraine conflict is affecting all countries like a pandemic, with “supply chains broken,” according to the Finance Minister.1 min read
According to Nirmala Sithararaman, the Russia-Ukraine conflict is affecting all nations in the same way as the epidemic did, with “supply lines interrupted.” The unexpected rise in oil prices, according to the Finance Minister, is a challenge. According to a UNCTAD report, India is still among the top five nations receiving foreign direct investment (FDI). She stated that India continues to be one of the top five nations in the world that get foreign direct investment. Nonetheless, the administration is mindful of the need to strike a balance between growth, economic recovery, and inflation, according to the Finance Minister.
Inflows of foreign direct investment (FDI) totaled USD 81.72 billion in 2020-21, up from USD 74.9 billion the previous fiscal year. According to the Finance Minister, India’s swift economic recovery following the epidemic, as well as the budget efforts, would assist maintain growth momentum in the years ahead.