FM SITHARAMAN: Oil Surge to $118/bbl WON’T Spike Inflation – India Cushioned at 2.8% CPI Low! Iran War Shock Absorbed? Smart Strategy or Risky Bet?
Finance Minister Nirmala Sitharaman assured Parliament that the Iran war-driven crude surge will not have substantial impact” on India’s inflation, as retail CPI stands at 2.8% near the lower bound of RBI’s 2-6% target band that is providing buffer against global oil shocks. Indian basket crude raises 16% from $69.01/bbl (Feb end) to $80.16/bbl (Mar 2), now testing $100+ amid Hormuz threats, but Sitharaman cited RBI’s Oct … Read more