If global oil prices rise further, India will need to cut taxes on petrol and diesel further to reduce inflationary pressures. According to US brokerage firm Goldman Sachs, however, this will have a reverse effect on revenue. If crude oil reaches $105 a barrel by the end of the year, the government will not be able to reduce excise duty further. Brent crude is hovering around $90 a barrel amid tensions between Russia and Ukraine.
Crude oil will reach $100
A group of Wall Street banks, including Goldman, have predicted oil will hit $100 a barrel this year, with global markets firming up. The firm warned that any sudden and swift move towards financial consolidation could stall an early and uneven revival in the Indian economy. The brokerage firm said in a statement that the budget should focus on increasing aggregate demand, especially rural consumption, and invest more in infrastructure.
Goldman Sachs said in a pre-budget remark that the back-to-back waves of the pandemic have made it difficult to reduce government debt relative to gross domestic product (GDP) in the medium term. The report suggests a steady reduction in fiscal deficit by reducing it to 0.5 percent in FY 2022-23 and progressively reducing it to 4.5 percent by FY 2025-26.
Allocation for expenses related to the Covid epidemic will be reduced
The brokerage firm believes that even though the allocation for expenses related to the Covid pandemic will be reduced, the government will have to continue with welfare spending and at the same time expect a 12 percent increase in capital expenditure.
Troubled by the closeness of India-US, and China: Threatened American officials – do not say anything about our relations with India
America has said in a report that China has threatened its officials. He has warned American officials not to say anything about India-China relations. According to the Pentagon report, China wants to
Relaxation in corona restrictions in Delhi, offices will work with 100% capacity, some relief in night curfew too
Because of the weakening of the third wave of Corona, a decision has been taken to relax the restrictions in Delhi. The Delhi Disaster Management Authority (DDMA) in an important meeting on Friday has
Amidst the Ukraine-Russia war, Chinese President Jinping made a big announcement about the war
China War Update: China is notorious for its expansionist policy all over the world. In Ladakh in India, where it has been showing finesse for the last two and a half years, it has also been asserting
Iran is training Russia to fight: the US said - Iranian soldiers are teaching Russian army to operate kamikaze drones
The Russia-Ukraine war has been going on for the last 8 months. Meanwhile, Russia has started using Iranian weapons in the war while intensifying its attacks. Now America says that Iranian soldiers in
Direct contest between Kharge and Tharoor for Congress President: Mallikarjuna is ahead in the race, but Shashi's record in winning the election is better
Voting for the post of Congress President is being held on Monday after 24 years. Senior leader Mallikarjun Kharge is considered the front-runner in this election. He is pitted against Shashi Tharoor,
Rajasthan: Rahul's big statement on the political turmoil of Rajasthan, said- Gehlot-Pilot both are valuable for us
Rahul Gandhi's statement has come to the fore in the war of words between Chief Minister Ashok Gehlot and Sachin Pilot in Rajasthan. In a press conference in Indore during the Bharat Jodo Yatra, Rahul
The world is going to be 8 billion: it took 123 years to reach 1 to 2 billion, then 6 to 7 billion happened in just 12 years
24 hours in 1 day, 60 minutes in 1 hour, and 270 children in every minute… With this speed in the year 2023, the world population will touch the figure of 8 billion. By the way, by the
Now Kharge called PM Modi as Ravana: said- saw your face in MLA, MP, corporation elections; Does he have 100 faces like Ravana?
In the ongoing campaign for the Gujarat elections, Congress leader Mallikarjun Kharge once again made a statement on Prime Minister Narendra Modi. During a public meeting in Ahmedabad on Monday,
Bad news for 2 crore people of Delhi, 2 new sub-variants of Omicron may increase corona cases
In the wake of the Coronavirus infection from the country's capital Delhi, two scary news are coming out. The first is that during 24 hours in Delhi, more than 1000 corona cases were reported on
IND vs SA: 'I was short of breath...', why did Arshdeep thank KL Rahul after taking five wickets?
India defeated South Africa by eight wickets in the first match of the three-match ODI series. With this victory, he took a 1-0 lead in the series. In this match, Arshdeep Singh took five wickets and