Indian oil minister Hardeep Singh Puri said oil rates remaining at $110/barrel can pose larger hazards than inflation to the global economic situation.
Indian oil preacher Hardeep Singh Puri said oil costs remaining at $110/barrel can present larger risks than inflation to the international economic situation.
“If oil prices stay at $110 (per barrel) you are not simply talking about rising cost of living, then you’re speaking about bigger dangers. You understand, that’s where the R (recession) word can be found in,” Puri told CNBC TV18 in a meeting at Davos.
“As well as if the worldwide economy enters that instructions, everyone, consisting of the oil manufacturers, everyone will need to encounter the consequences then inflation,” he stated.
India has cut tax rates on a number of items consisting of fuels to tame inflation.
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Resources: NDTV
Last Updated: 23 May 2022
