Crude surge is a price shock, may widen CAD and pressure fiscal deficit: CEA
Chief Economic Advisor V Anantha Nageswaran on Saturday said that the current crude scenario poses a price shock, not a supply shock. He also cautioned that while the current account deficit could widen, budget estimates of fiscal deficit would be under challenge. "Many of the petrochemicals, petroleum products and the base crude oil that we import are much higher than…
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