Tag: inflation

Tensions are rising up in front of the world since Russia declared war against Ukraine. Oil has become expensive and it can cause a loss of up to Rs 1 lakh crore to India. After the attack by Russia on Ukraine, the price of crude oil has reached the maximum level of $105 per barrel. According to a new research report by the State Bank of India (SBI), if the war drags on, the government's revenue may decrease by Rs 95 thousand crores to one lakh crore in the upcoming financial year. Prices of all goods and products will be affected, leading to a rise in domestic inflation in India. Japanese research company Nomura has also claimed that India will suffer the most in the Asian region because of this crisis. Even according to the report of Soumya Kanti Ghosh, group chief economic advisor, S...