1 of 1
Story summary
- India will let its fiscal deficit rise to 4.8% of GDP by March 2027, after higher fuel prices from the Iran-war closure of the Strait of Hormuz lifted costs 8% and cut gas subsidies.
- The fertilizer subsidy is slated to jump 20% this fiscal year.
- The Reserve Bank of India warned the oil-price surge creates growth and inflation risks as India, importing over 85% of its oil, adds Russian supplies.
