Key Points
India should be able to tide over the spike in crude oil prices due to the latest conflict in Gaza, International Monetary Fund executive director KV Subramanian noted, saying that the development for the global economy meant more uncertainty...
On top of that this adds uncertainty, which may impact, I think, the global growth, possibly, in an even more negative manner," he told ET on the sidelines of the ongoing annual International Monetary Fund and World Bank meeting here.. Crude oil prices jumped 4% soon after the conflict broke out...
"We handled the pandemic in a much better way, we were the only country to identify early on that Covid is going to be a big supply-side shock and, therefore, we balanced supply side measures, with very carefully targeted demand side measures," he said, adding that as a result the country emerged with strong growth and strong macroeconomic fundamentals...
"Compared to the situation a few days back, the path for interest rates may look a little longer," he said, adding that on the positive side vegetable prices easing makes for some positive inputs on this front..
Asked about the impact of the latest conflict on the proposed middle east- europe logistics corridor, announced on the sidelines of New Delhi G20 Summit, he said India, which displayed strong leadership at the G20 in thrashing a declaration, will be able to come up with a solution...
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