_*Govt Outlook*_ Amidst global uncertainty, global growth for 2025 and 2026 likely to slow; India faces smaller forecast cuts in global forecasts. High-frequency indicators for April 2025 show strong industrial and commercial activity. Food inflation remains benign due to good rabi harvest, higher summer sowing, healthy procurement, and above-normal monsoon. Exports remain robust; forex reserves provide 11 months of import cover. Declining crude oil prices will potentially lower import bills, create fiscal space and alleviate external economic pressures. Diverging central bank rate paths globally, may impact capital flows and financial markets. Govt retains its outlook on FY26 growth at 6.3-6.8%, with private consumption, especially the rural rebound, and resilient services exports as the key drivers Multiple agencies project India's growth to be in the range of 6.3-6.7 per cent in FY26.