Multiple points of the economy.

"The Reserve Bank of India (RBI) has released its Financial Stability Report (FSR) for second half of the year 2021 that details the state of financial stability in the country," IAS Parliament. "Almost 64% of respondents expect the economy to recover fully in the next 1-2 years while 22% believe it may take up to 3 years." What are the risks anticipated by the RBI? "For India the main sources of risks are commodity prices, domestic inflation, equity price volatility, asset quality deterioration, credit growth and cyber disruptions." Everything except war, it seems. "Oil prices are likely to stay at higher levels and may hit $90 per barrel by end of this year, according to US investment bank Goldman Sachs. The price of Brent crude is projected to soar further by early next year and touch as high as $110 per barrel," TOI. Because, " OPEC+ has kept a tight grip on supply since it agreed to its historic production cut deal in May 2020. It has not only sought to balance supply with demand as the world surges from the pandemic - but it also has sought to restore petroleum inventories to normal levels," Forbes. "India's crude oil import bill is set to surpass the last fiscal year's $62.2 billion by the end of November itself" CNBC. "Between April and October, India imported 118.5 million tonne (mt) of crude oil, costing the exchequer $61.1 billion." Till May, "India bought more US and Canadian oil at the expense of that from Africa and the Middle East," reducing OPEC's share from 80% to 72%, Reuters. "India splurged a record $55.7 billion on gold imports in 2021, buying more than double the previous year's tonnage," as "India imported 1050 tonnes of gold in 2021, the most in a decade", ET. "In 2020, security researchers from Ireland-based Malwarebytes Labs cybersecurity firm noticed attempts from a hacking group, APT36 -- a Pakistani state-sponsored malicious actor, to infiltrate Indian government, diplomatic and military networks, and honey trap defence for stealing sensitive data related to Pakistani military and diplomatic interests," Gateway House. After a lull following demonetization in 2016, Pakistan has resumed smuggling fake Indian currency notes (FICN) through Bangladesh and Nepal, IANS. The problem is that the fake currencies are of such high quality that they cannot be distinguished from original notes by the naked eye. India is facing a two-and-a-half front war from Pakistan, China and internal disturbances such as the Maoists and in the northeast, wrote Raghu Raman. "Essentially, both Pakistan and China have drawn India into an economic war that costs us exponentially more just to maintain status quo against our two adversaries -- one of whom is poorer, yet extracts a higher price from us, and the other much richer and hence drains our resources," HT. Good thing the RBI did not mention all this. Why create panic?