Bloody Hell What's Cooking?
Right let's get one thing straight. India the world's fifth largest economy is looking a bit like a risotto left out overnight. The Reserve Bank of India (RBI) has just slashed its policy rate to 6% the lowest since September 2022. Why? Because according to them growth is slower than a donkey in treacle. And don't even get me started on those bloody tariffs from the Yanks!
Tariffs? You Donkey!
The Americans bless their cotton socks have slapped a 26% tariff on Indian goods. 26 PERCENT! Are you having a laugh? The RBI's already whining about 'increased uncertainties' and 'new headwinds.' Of course there are headwinds you nincompoops! You’ve got trade wars brewing hotter than my vindaloo. This is economic suicide! Are they trying to run a country or a bloody kindergarten?
Inflation's Gone Soft Mate
Inflation is playing nice at 3.61% the lowest since July. Vegetable prices are cooler than a cucumber sandwich. But don't get complacent! Soft inflation is nice but a sluggish economy is like overcooked fish – utterly pointless. They are confident that inflation will align with its 4% target over the next 12 months. Are they deluded?
Growth? More Like a Crawl
The GDP grew a measly 6.2% in the last quarter. A SHARP slowdown from 9.2% the year before. HSBC says those tariffs alone will knock off half a percent from India's growth next year. Half a percent! That’s more than my mother in law takes from my wine cellar. Below 6% is 'not impossible,' according to Sanjay Mathur from ANZ. Well DUH! It's staring you in the face like a bad oyster.
Heat Wave! Agricultural Apocalypse!
And as if that wasn't enough a heatwave is scorching the fields threatening agricultural output. Agriculture is 18% of India's GDP! Are they going to start importing bloody curries next? You can't expect farmers to produce top quality crops in that sort of heat. This is going to be a disaster!
Will India Pull Its Finger Out?
HSBC says inflation will average around 3.5% thanks to cheaper food and oil and a stronger rupee. Good but not good enough! India needs to sort itself out and fast. Stop relying on luck pull your finger out and start cooking up a proper economic recovery! Or else they can get out of my kitchen!
Comments
From Gordon Ramsey
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fROMOHIO
This article is spot on. It's a tough situation.
ArizonaGlow
I'm worried about the future of Indian exports.
Mymind8u
Let's hope things improve soon!
svenfran
I hope this rate cut will help small businesses.
netmom27
Tariffs are a disaster for everyone. This will hurt India badly.
lilsteviechea
The government needs to step up and support the economy.
beta05
India needs to diversify its economy.
tjperez04
Is the RBI doing enough? I'm not so sure.
pinkunicorn
It's about time they did something. The economy has been sluggish for too long.
warnars
The heatwave is a real concern. Agriculture is so important.