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Ajit Ranade: Indian policymakers have less space for manoeuvre but here’s what they could do

India faces severe, interconnected economic pressures, including global monetary tightening, high oil prices, US tariffs, deficient monsoons, and a widening trade deficit. Warnings from officials underscore the lack of "quick fixes," as these pressures narrow policymakers' choices. The author advocates a dual approach: immediate relief for the vulnerable combined with lasting adjustments. Key strategies involve securing essential supplies, transparent food stock management, orderly exchange-rate adjustments, and containing unfunded commitments. Building resilience requires stronger exports, predictable investment rules, and employment-intensive growth, acknowledging limited immediate global relief.

LiveMint · Ajit Ranade · Oct 5, 2026 at 7:17 AM

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