Mumbai, Sept. 15 -- A likely rate hike by the US Federal Reserve coupled with elevated crude oil prices could intensify inflationary pressures and constrain the policy flexibility available to Indian authorities, according to Crisil Chief Economist Dharmakirti Joshi.

Speaking to ANI in an exclusive interview, Joshi said the external environment remains challenging for India, with global monetary policy and energy prices emerging as key risks for growth, inflation and the rupee.

Markets are currently pricing in a strong possibility of a 25 basis point rate hike by the US Federal Reserve at its September policy meeting, while Brent crude has climbed above USD 100 a barrel amid heightened geopolitical tensions and concerns over global ener...