India Economics

India Economics Update

10 January, 2018

The economic impact of rising oil prices

High global oil prices have in the past contributed to worryingly-large current account deficits in India but prices would have to rise much higher than they have recently for that to return as a risk. A more immediate concern is that further global oil price increases could prompt the government to reduce excise duties on retail fuel so as to protect consumers but at the cost of denting the fiscal position.

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