Former Chief Economic Advisor Dr Arvind Subramanian warns that India faces a stagflationary shock due to the US-Iran war and the disruption of the Strait of Hormuz. In an interview with Rajdeep Sardesai, he states that ‘on certain reasonable assumptions, our GDP growth is shaved by more than one percentage point, maybe more,’ with inflation potentially rising by one to one and a half percentage points. Subramanian emphasises that it is ‘as much natural gas and fertiliser’ as oil that will determine India’s economic impact. He notes that restaurants are already closing down due to natural gas shortages, with ‘the stagnation part already being felt’. The economist explains that global policymakers have ‘less policy firepower’ due to high debt levels. He criticises India’s pre-war currency performance, noting the rupee was ‘the worst performing currency in the one year before the war began’. Subramanian calls for India to secure supplies of fertiliser, oil and natural gas globally, build commodity stockpiles, and reduce long-term dependence on fossil fuels through renewable energy investments.
#ArvindSubramanian #StagflationIndia #USIranWar #itwebvideos #IndianEconomy #GDPGrowth #InflationIndia #StraitOfHormuz #OilPriceCrisis #NaturalGasShortage #RupeeDepreciation #EconomicSlowdown #FertiliserPrices #GlobalRecession #RBIPolicy #FiscalPolicy #EconomicReforms #RajdeepSardesai #CrudeOilPrices #MiddleEastConflict #EconomicImpact #SupplyChainCrisis #RenewableEnergy #IndiaNews #EconomicForecast #PolicyReforms
Subscribe to India Today for NEW VIDEOS EVERY DAY and make sure to enable Push Notifications so you’ll never miss a new video.
All you need to do is PRESS THE BELL ICON next to the Subscribe button!
India Today TV is India’s leading English News Channel. India Today YouTube channel offers latest news videos on Politics, Business, Cricket, Bollywood, Lifestyle, Auto, Technology, Travel, Entertainment and a lot more.
Stay tuned for latest updates and in-depth analysis of news from India and around the world!
WhatsApp Channel: https://whatsapp.com/channel/0029Va2AnW3JENxxg7OuJv00
Download App: https://indiatoday.link/wHaj
Follow us: Official website: https://www.indiatoday.in/
Twitter: https://twitter.com/IndiaToday
Facebook: https://www.facebook.com/IndiaToday
