From grounded flights in Punjab to panicked forex traders in Mumbai, India’s economy is reeling after a Pakistan-origin drone strike disrupted critical sectors. The rupee collapsed to 86.50/USD, while airspace closures forced IndiGo and SpiceJet to cancel 100+ flights, stranding 15,000 passengers.
Amid protracted protests over delayed Minimum Support Price (MSP) guarantees, Punjab’s farmers ground harvests to a halt in volatile border zones—a strategic chokehold that catapulted wheat futures 6% higher and exposed agriculture’s frontline role in India’s economic security. ‘This is no protest; it’s economic warfare,’ declared Farm Leader Rakesh Tikait, as the Reserve Bank of India (RBI) scrambled to pledge ‘targeted liquidity injections.’ However, analysts at Nomura and Crisil issued dire warnings: prolonged agricultural paralysis could ignite stagflation, with CPI inflation breaching 7% and GDP growth stalling below 5%—a toxic cocktail for Modi’s reelection bid.
Cascading Crises:
- Transport Chaos: Truckers strike over fuel hikes compounds supply chain snarls.
- Tourism Hit: Taj Mahal bookings drop 40% amid travel advisories.
- Startup Pain: Bengaluru tech firms report 20% attrition as expats flee.
