India’s govt says volatile crude oil prices pose concerns for economy

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Oil tankers are seen parked at a yard outside a fuel depot on the outskirts of Kolkata February 3, 2015. REUTERS/Rupak De Chowdhuri/File Photo

NEW DELHI, Oct 11 (Reuters) – Volatility in the prices of crude oil, edible oils and metal products pose concerns for India’s economy, though inflation is expected to ease in coming months, a government report said on Monday.

“India is well-placed on the path to swift recovery with growth impulses visibly transmitted to all sectors of the economy,” a report released by the finance ministry said.

The Reserve Bank of India’s monetary policy committee left policy interest rates unchanged on Friday, lowering its retail inflation projections to 5.3% from 5.7% for the current fiscal year ending in March 2022, while warning about the risk of higher fuel prices. read more

Reporting by Manoj Kumar and Aftab Ahmed; Editing by Kim Coghill

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