Mohammed Hassan, on Pixabay IMPORT INFLATION, EXPORT GDP Russia’s war on Ukraine is also a missile attack on India’s GDP. No other major economy is as dependent on imported oil as India. Our current imports of crude oil run to about 4 million barrels a day. The Finance Minister’s budget for the coming financial year projected a crude price of 70 to 75 dollars a day. Instead, we are currently looking at a price of over 115. The difference between the two numbers is a drain of more than 40 dollars a barrel, or 160 million dollars a day. If the price remained at this level for a year, that would be an unforeseen import cost of 58 billion dollars.
Hey Mohit , As usual thought provoking article … as for Kashmiri pandits we all know what the movie was for and what the govt will end up doing or rather not doing anything for them. A few of the Kashmiris I know of , the second generation doesn’t want to go back due to resentment and understandably so but these are people who are well off and have done good for themselves even outside of Kashmir. I think the people on Yamuna might still want to go back to their land .
As for crude oil , some media reports suggests that the govt of india has struck a deal with Russia to get oil at $60 a barrel. While keeping the moral and ethical question aside and if this is true do you still think that gdp will be hit even if this deal goes through ?
#19 Import Inflation, Export GDP; Kashmir on the Yamuna.
Hey Mohit , As usual thought provoking article … as for Kashmiri pandits we all know what the movie was for and what the govt will end up doing or rather not doing anything for them. A few of the Kashmiris I know of , the second generation doesn’t want to go back due to resentment and understandably so but these are people who are well off and have done good for themselves even outside of Kashmir. I think the people on Yamuna might still want to go back to their land .
As for crude oil , some media reports suggests that the govt of india has struck a deal with Russia to get oil at $60 a barrel. While keeping the moral and ethical question aside and if this is true do you still think that gdp will be hit even if this deal goes through ?