Though the armed flare-up between the two countries confirmed what the world had feared ever since US President Donald Trump walked away from the US-Iran nuclear deal in May 2018, the rising hostility has not yet affected the overall oil production or supply of crude oil, which shot up by about $10 per barrel since the US forces based in Iraq killed Soleimani in a drone attack.
The shortfall in oil supply due to tension and instability in West Asia is not a major issue for India as this can be met by enhanced supplies from other oil-producing regions. What is worrying for countries like India that depend almost entirely on imports for all its oil needs is that the oil prices can go up and stay in the higher region. This can seriously impact the fiscal deficit and the consumer price index in the medium and long terms.
Denne historien er fra January 16-31, 2020-utgaven av BUSINESS ECONOMICS.
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Denne historien er fra January 16-31, 2020-utgaven av BUSINESS ECONOMICS.
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Elections 2024: Illusion & Reality
Whenever there is an election, we find the politicians speaking in hyperboles – and possibly, 2024 Lok Sabha has reached a crest.
Government initiatives aim to bolster rubber cultivation and innovation
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Macron speaks on Europe's economic fragility
Many heads of state often speak on topics over which they have little control or vested interest.
Indian industries stand to benefit in raising of tariff on Chinese imports to the US
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It is quite incredible to see things of interest happen with the blessings of the divine trio
Swamiji once said, “The wind of divine grace is always blowing. You just need to spread your sail.
The battle for sustainability: Earth Day's message of 'Planet vs. Plastics
World Earth Day, observed annually on April 22 worldwide, commemorates contemporary environmental advancements and promotes awareness of the imperative to conserve Earth and its resources.
Mother Teresa International Award 2024: Celebrating Humanity and Service
The Mother Teresa International Award, a prestigious honor recognizing individuals dedicated to serving humanity, will host its 2024 ceremony in Dubai, United Arab Emirates.
Can India get out of the middle income trap?
In the mid-1980s, international financial institutions moved away from calling their member countries as poor and rich countries, or as developed and less developed countries.
How is India's falling household savings rate worrisome for its development?
There has been a sharp reduction in the household net financial savings rate in 2022-23, leading to an overall decline in the financial savings rate.
