Thursday, Apr 25 2024 | Time 18:33 Hrs(IST)
image
Business EconomyPosted at: Jan 31 2023 9:40PM


Growth projections to remain undisturbed if oil below $100 a barrel, says CEA

New Delhi, Jan 31 (UNI) Stating that uncertainties in global oil market are tremendous, Chief Economic Adviser (CEA) Dr V. Anantha Nageswaran on Tuesday said that the real GDP growth p[projections would remain undisturbed as long as crude oil prices stay below $100 a barrel.
"It is difficult for us to give a prediction for the oil price. RBI takes a number that is below $100 per barrel and we can live with that number and be able to achieve the growth rates that we have projected in the survey. So, therefore at this point it will be difficult for me to come up with precise number because the uncertainties with respect to the oil market are tremendous," said CEA during a press briefing after tabling of Economic Survey in the Parliament.
Finance Minister Nirmala Sitharaman tabled the key document in both the Houses of the Parliament today ahead of the Union Budget.
The Survey has pegged India's real gross domestic product (GDP) in the range of 6-6.8% in the financial year 2023-24 depending on the trajectory of economic and political developments globally.
Replying to media queries, the CEA said that inflation should not be as big a problem as it was in 2022 but conceded that the uncertainties still remain high.
The Survey said that India's FY24 growth projection is broadly comparable to the estimates provided by multilateral agencies such as the World Bank, the IMF, and the ADB and by RBI, domestically.
UNI NK GNK
Please log in to get detailed story.
Tags: #Growth projections to remain undisturbed if oil below $100 a barrel# says CEA
More News

Godrej & Boyce contributes to India’s energy transition initiatives; Undertakes orders worth 1000 Cr plus in FY’24

25 Apr 2024 | 5:58 PM

Mumbai, Apr 25 (UNI) Godrej Electricals & Electronics, a business unit of Godrej & Boyce, has announced the acquisition of orders worth Rs 1000 Cr plus in FY24 for their Power Infrastructure business.

see more..
Sensex surges 486 50 pts

Sensex surges 486 50 pts

25 Apr 2024 | 5:10 PM

Mumbai, April 25 (UNI) Extending its winning streak for the fifth consecutive day in a row, the BSE Sensex rallied 486.50 points to close high at 74,339.44 on the strength of services, metal, power, and auto stocks amid a strong Asian market.

see more..

Rupee ends flat at 83 32 against USD

25 Apr 2024 | 4:50 PM

Mumbai, April 25 (UNI) The rupee on Thursday ended steady at 83.32 against the USD on selling US dollars by bankers and exporters, dealers at the foreign exchange said.

see more..

Shree Cement joins RE100

25 Apr 2024 | 4:32 PM

Mumbai, Apr 25 (UNI) Shree Cement, one of India's largest cement producers with an installed capacity of over 56 MTPA, has announced its membership in the esteemed RE100 initiative, a global initiative led by Climate Group, advocating for businesses to convert to 100 per cent renewable electricity for all their operations.

see more..

Vedanta net down 27 pc in Q4

25 Apr 2024 | 4:26 PM

Mumbai, Apr 25 (UNI) Indian mining company Vedanta, with its operations in iron ore, aluminium, zinc, oil and gas, on Thursday reported 27 per cent dip in net profit at Rs 2,273 crore for the fourth quarter (January-March) of FY 24 from Rs 3,132 crore in same period a year ago.

see more..
image