New Delhi (10th Mar, 2020): Crash in Oil prices as Saudia Arabia initiates price war amid Royal family tensions, causes India to despair.  According to reports of Baaghi TV, the economic boost associated with decline in crude oil prices globally, may not be a very appealing prospect for India amidst KSA’s war against Oil prices. Reportedly, Brent oil drops down by almost thirty percent making it approximately $36 per barrel on Monday making it an almost $14 loss to the state earnings. India curbs rights of minorities: Mishal Malik India may suffer major loss to its import bill and current account deficit is the prices continue to decline. While, this may significantly benefit the Reserve Bank of India (RBI), as per reports, the loss would be far greater in comparison. [bs-quote quote=”There is unlikely to be a net positive effect on the fisc from the oil prices fall, if this sustains. There are several offsetting factors involved.” style=”style-8″ align=”center” color=”#dd0000″ author_name=”A. Prasanna” author_job=”Economist at ICICI Securities Primary Dealership Ltd.”][/bs-quote] According to Prasanna, an India-based economist, net positive is unlikely for the government as there are “several offsetting factors”. Reportedly, the Indian government has estimated a subsidy of ₹38,568 crore for … Continue reading Saudi Revolt: Why Oil crash may be bad news for India?