Supply side bottlenecks including infrastructure and issues of governance also weighed on growth even as GDP growth slipped in recent quarters. Supply side factors also ensured that inflation remained elevated and constrained monetary policy action for stimulating growth. It became increasingly evident that more needs to be done to address structural factors. Risks and challenges 26.
The recent episodes underscored several risks and threw up many challenges – for the economy, for policy makers and, I must say, for the global economy. Let me briefly touch upon some of them: i.