Source: Reuters (via feed)
India’s external balance and government finances could be hit if oil prices stay high for an extended period, economists have said. Rising oil import costs and subsidies needed to keep key commodities affordable are factors in this risk. The Iran war is pushing up oil import costs.
These conditions underscore challenges faced by India’s economy linked to persistently high oil prices. However, the specific outcomes depend on the duration and scale of these price levels.
BizTrendWire Insight:
Persistently high oil prices can affect India’s external balance and government finances as import costs rise.
Persistently high oil prices can affect India’s external balance and government finances as import costs rise.
