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The Indian government, in its August economic report, expressed comfort with a projected 6.5% growth for 2023-24. It acknowledged concerns about rising global crude oil prices and the August monsoon deficit but highlighted positive factors like corporate profitability, private sector investments, and construction activity. While it recognized risks like a stock market correction and geopolitical developments, it believed that the impact on India s economic activity would likely be limited. ....
While it might be more difficult for oil marketing companies to lower pump prices of petrol and diesel, the economist sees a cut in the excise duty as a viable option, particularly given the timing – coinciding with the festive period and ahead of a busy election schedule ....
Gasoline, has become one of the main economic growth drivers in several countries worldwide. However, this commodity is susceptible to several market dynamics that impact consumers, while the US holds a significant percentage share of global consumption. ....
These companies are currently recouping their losses on marketing auto fuels, gaining from a fall in global crude oil prices following last year’s rally. ....