Market and Business News

- Policymakers are concerned about how long the current uncertainty will last Sanctions on Russia have affected crude supplies. India imports 5% of its total fuel requirement. The share of the country's fuel imports in GDP is the highest compared to other major economies. A decade ago, the ratio reached an all-time high of 7%. But before covid it has dropped to just four per cent and less than three per cent during the epidemic. If current prices remain the same, the ratio could rise again to 5 per cent. The country's 12-month crude oil imports currently stand at 1.3 billion barrels, up from 1.3 billion barrels before the fall in demand due to covid. If the economic output in the next financial year is 10 per cent higher than the previous year, net oil imports could reach 1.5 billion barrels. Oil prices have also risen above the level of December 2021. That means an additional burden of about ડો 20 billion on this front as well. However, this is only part of the effect. The ...

- Policymakers are concerned about how long the current uncertainty will last Sanctions on Russia have affected crude supplies. India imports 5% of its total fuel requirement. The share of the country's fuel imports in GDP is the highest compared to other major economies. A decade ago, the ratio reached an all-time high of 7%. But before covid it has dropped to just four per cent and less than three per cent during the epidemic. If current prices remain the same, the ratio could rise again to 5 per cent. The country's 12-month crude oil imports currently stand at 1.3 billion barrels, up from 1.3 billion barrels before the fall in demand due to covid. If the economic output in the next financial year is 10 per cent higher than the previous year, net oil imports could reach 1.5 billion barrels. Oil prices have also risen above the level of December 2021. That means an additional burden of about ડો 20 billion on this front as well. However, this is only part of the effect. The ...