The global economy is expected to contract by about 0.2% in the second quarter from the same period last year, the Reserve Bank of India (RBI) said in a statement on Friday.
The impact of a global economic slowdown is already evident in the global economy, with the value of the rupee tumbling against the dollar to a record low of 54.45 to the dollar.
The rupee, which has been in a slump since the beginning of this year, has slumped by more than 1% against the greenback so far this year.
The RPI, which is the main gauge of inflation, fell to 56.23, its lowest since March last year.
This means that inflation is set to be around the RPI mark of 56.20, the lowest since December 2014.
This is in contrast to the RDI, the national currency, which rose from 56.60 in September 2016 to 57.13 in September 2017.
The fall in the rupees value is the reason why the RBI is now expecting a global economy slowdown.
This is the first time the RBI has issued a warning on global economic growth.
The central bank is expected by the central bank governor to raise interest rates to 0.5% in April and to cut the benchmark rate from 6.25% to 5%.
In its statement, the RBI said the fall in global economic activity has caused the ruoms currency to decline.
In this context, it is expected that the RMB will fall by about 7.5%.
The RBI has already said that it will take measures to curb inflationary pressures in the economy, which will affect the purchasing power of the RUB and the ruination of the global financial system.
The RBI said that the country is likely to see a decline in the real GDP growth rate in the coming quarters as the slowdown in global growth is expected.
The global economic outlook is already weak, and the current global economic situation is expected result in a weaker global economy and the weakening of the ruble.
The global economic performance is also expected to be impacted by the impact of global macroeconomic policies, which may impact the domestic economy.
The slowdown in international trade and the impact on domestic production are expected to impact the demand for goods and services and domestic consumption.