Government Says Volatile Crude Oil Prices Pose Concerns For Economy

Volatility in the prices of crude oil, edible oils and metal products pose concerns for India’s economy, though inflation is expected to ease in coming months, a government report said on Monday.

“India is well-placed on the path to swift recovery with growth impulses visibly transmitted to all sectors of the economy,” a report released by the finance ministry said.

The Reserve Bank of India’s monetary policy committee left policy interest rates unchanged on Friday, lowering its retail inflation projections to 5.3 per cent from 5.7 per cent for the current fiscal year ending in March 2022, while warning about the risk of higher fuel prices.

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