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What is Oil Shocks and India about?

The document discusses the impact of oil shocks on the Indian economy. It finds that increases in international oil prices lead to higher inflation, a fall in GDP growth, and a decline in the manufacturing sector in India. The government provides oil subsidies to companies to keep prices lower, but this increases domestic fuel prices and government spending. The Reserve Bank of India also uses monetary policy tools like increasing cash reserve and repo rates to reduce inflation and stabilize the economy dur

Author

Milan Trivedi

Language

EN