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Oil prices

Coronavirus-hit China triggers an unprecedented slide in global oil demand. It can help India.

Global crude-oil demand may just collapse in 2020. As the global economy faces a likely recession, crude prices have gone into a tailspin, sinking over 30% this year. Still, it helps India – cuts the mammoth import bill, keeps fuel inflation in check, and RBI can sustain a soft interest-rate regime to boost growth. But first: the Modi government must contain the coronavirus.
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9 Mar 2020 5 Mins Read 5 comments
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China, and the globe, is staring at a possible recession in 2020. The second-largest economy has ground to a halt, disrupting trade and business across the world. While the People’s Bank of China took the lead in cutting rates to stimulate the domestic economy, it’ll mean little until economic activity revives – and that may take a while.
aviation fuel, is paid in dollar terms, foreign exchange is an important aspect of their costs”. Clearly, lower crude oil prices are crucial for India’s macroeconomic stability. But, the Modi government has a big challenge at hand – contain the spread of coronavirus and insulate the Indian economy from a global slowdown. ( Graphic by Sadhana Saxena)
China, and the globe, is staring at a possible recession in 2020. The second-largest economy has ground to a halt, disrupting trade and business across the world. While the People’s Bank of China took the lead in cutting rates to stimulate the domestic economy, it’ll mean little until economic activity revives – and that may take a while. aviation fuel, is paid in dollar terms, foreign exchange is an important aspect of their costs”. Clearly, lower crude oil prices are crucial for India’s macroeconomic stability. But, the Modi government has a big challenge at hand – contain the spread of coronavirus and insulate the Indian economy from a global slowdown. ( Graphic by Sadhana Saxena)

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