India’s Economic Performance Review for April 2022

The Indian economy continues to be daunted by uncertainties as any other major economy due to continuing supply disruptions caused by Russia’s invasion of Ukraine. Indian Fiscal Year 2022-23 (FY2022-23, beginning April 2022) started with continuing concern on rising inflation that has engulfed the course of the economic growth of India for at least a quarter. Deepening inflationary pressures limited business confidence in April 2022, the first month of FY2022-23. While the overall business sentiment was still positive, it was much lower than that observed in March due to greater disruptions from the Russia-Ukraine conflict.