Crude Near $120 Threatens India’s Fiscal Math, But Subsidy Relief May Cushion the Blow
A surge in crude oil prices toward $120 a barrel is set to intensify inflationary and fiscal pressures on India, raising the cost of imports, transport and farm inputs. Yet the economy may not face the full force of the shock, with some tailwinds from stronger tax collections, subsidy management and policy buffers likely to soften the impact.
