CRUDE OIL PRICE HAS JUMP CROSSED USD 8O (Eighty) PER BARREL : ENOUGH WARNING SIGNAL FOR INDIAN ECONOMY
CRUDE OIL PRICE HAS JUMP CROSSED USD 80 PER BARREL: ENOUGH WARNING SIGNAL FOR INDIAN ECONOMY Crude Oil Price has jump crossed USD 80 per Barrel now, that is a lot of warning signal for Indian Economy. We (at India at National level ) enjoyed the downward price Spiral of Crude Oil as a wind fall, when it had gone as low as USD 40 per barrel after 2014; there was a great saving estimated to be more than Rs. 20 lakh Crores, (Indian Rupees 20000 Billions) in last 7-years and we spent this saving even if in our expenditures, while the Indian Consumers continued to pay the same and higher prices of Petrol and Diesel ( Hydro-Carbon Fuel Prices ) compared to pre-2014 levels, in simple terms we used/consumed this savings. If the Crude Oil Price crosses just USD 20 per Barrel more ( if it becomes USD 100 per Barrel to say), as it is already on a cyclical Upward Spiral and it is but global economic phenomena without choice, there will be enough sweat for the Indian Economy. The Governments (...