21 May 2018
With global oil prices once again spiralling upwards, the macro- economic risks of higher inflation, higher trade deficit and pressure on balance of payments with attended consequences for the rupee value have once again surfaced, feels FICCI. Weakening rupee will further add pressure on the import bill. There is also a risk that monetary policy may turn hawkish, which would, in turn, have a bearing on the growth of private investments.
Unless swift action is taken to address the situation, the economic growth will again hit a speedbreaker. Amongst the most immediate actions that can be taken by the government is to bring down the excise duty on fuel, says FICCI.