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No direct impact of oil price hike on India's fiscal situation: SBI Report
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No direct impact of oil price hike on India's fiscal situation: SBI Report
New Delhi [India]: The retail fuel price hike of Rs 3 per litre has been implemented to reduce the losses incurred by oil marketing companies (OMCs) due to unchanged fuel prices amidst rising Brent Crude prices. While immediate consumer price inflation shows an upward movement, according to SBI Research Ecowrap, “there is no direct impact of this hike on the fiscal situation.” The report noted that fuel consumption levels typically recover quick…
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