Prioritise energy security for keeping growth momentum going: RBI MPC member

The ongoing West Asia conflict has highlighted India's structural vulnerability to vigor shocks, reinforcing the request to trim dependence connected imported crude and accelerate efforts to fortify vigor security, according to an outer subordinate of the RBI's rate-setting panel.

Nagesh Kumar, who is the manager of the Institute for Studies successful Industrial Development and besides a portion of the Monetary Policy Committee, said the Indian attack needs to absorption some connected stepping up lipid exploration domestically and hastening the modulation to alternate sources.

"The precocious dependence connected imported crude makes the Indian system highly susceptible to volatility successful the hydrocarbons market. While India's macroeconomic fundamentals stay resilient, and the Indian system volition proceed to stay the fastest increasing large system with a maturation complaint of astir 7% successful 2026-27, it is clip to prioritise vigor information and resilience for sustaining the accelerating economical maturation trajectory," Mr. Kumar said successful an interrogation with PTI.