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CEA Nageswaran said the rising prices of fertiliser and petroleum products globally due to the crisis will make it challenging to achieve the 4.3 percent fiscal deficit target for the current fiscal.
Crude oil prices surged to $126 per barrel post-West Asia war, the highest in four years.
KEY POINTS
- CEA Nageswaran highlighted strategic vulnerability in import reliance on nickel, tin, and copper.
- India's fiscal deficit target of 4.3% is at risk due to global fertilizer and petroleum price spikes.
- India is experiencing a price shock from the West Asia conflict, not a supply shock, per CEA.
- Government is partially passing global energy prices to consumers, notably via commercial LPG and export duties.
COMPANIES
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