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In their report on ‘Global Economic Prospects’, the World Bank also stated “collections of taxes from domestic sales have also increased steadily, the report said, adding that to mitigate the price pressures arising from higher energy costs, as well as shortages of agricultural products, especially fertilizers, several measures have been implemented in India, including a reduction in fuel taxes. Reduced US tariffs and the expected implementation of free trade agreements will likely mitigate the impact of weaker external demand due to the conflict, particularly on merchandise exports. Growth is then anticipated to rebound over the next two fiscal years, driven by firming domestic demand and a pickup in export growth.”