How do you see oil prices impacting the Indian economy?

Question

Accepted Answer

Oil prices impact the Indian economy through various channels.

Higher oil prices increase the cost of imported oil, leading to higher fuel prices and transportation costs.
This can result in inflationary pressures and reduced consumer spending power.
Industries dependent on oil, such as transportation and manufacturing, may face higher production costs.
Oil price fluctuations also affect the value of the Indian rupee and the country's trade balance.
Lower oil prices can benefit the Indian economy by reducing import bills and improving the current account balance.

Accepted Answer

Rs. 50 pr liter

Accepted Answer

The rise in oil prices is likely to make the situation worse for the government as well. Every $10 increment leads to an increase of about $10 billion in current account deficit. Rising oil prices also reduce the GDP by about 0.5% for every $10 increase.

Accepted Answer

I am interested in prices

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