Nirmala Sitharaman,Union Finance Minister
At the same time, moderation in select indicators, including core industries, fuel consumption, air passenger traffic, consumer confidence, and labour market indicators, suggests some easing in momentum,” it said.
New Delhi: The economy remains resilient, though moderation in some high-frequency indicators suggests a gradual easing of momentum, a Finance Ministry report said, while flagging risks from uneven monsoon rainfall, emerging El Nino conditions and geopolitical uncertainties.
Following the robust growth performance in 2025-26, economic activity remained resilient in the initial months of 2026-27, the finance ministry said in its latest Monthly Economic Review.
“High-frequency indicators such as e-way bill generation, PMI indices, electricity consumption, and automobile sales continued to reflect underlying strength in domestic economic activity.
At the same time, moderation in select indicators, including core industries, fuel consumption, air passenger traffic, consumer confidence, and labour market indicators, suggests some easing in momentum,” it said.
As the global environment continues to evolve, inflation readings may remain relatively contained in the coming months.
Recent easing in global commodity markets, a correction in crude oil prices, and softening of key input prices, such as urea, may help moderate imported inflationary pressures, it added.