War May Push Crude Oil Prices Up, Inflation Likely to Rise in India: Economist

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A possible rise in crude oil prices during war-like situations could increase economic pressure on India. Economist Trinath Lenka warned that any surge in global crude oil prices may directly impact India’s economy by driving up inflation and increasing the cost of goods.

Speaking about the potential impact, Lenka said the rise in unrefined crude oil prices during a conflict situation will be a major concern for India. According to him, higher crude prices could lead to inflationary pressure and eventually push up the prices of essential commodities in the country.

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