Former RBI Governor Raghuram Rajan warns that if the US-Israeli war against Iran continues beyond a month, oil prices could surge to $150-200 per barrel, potentially triggering a global recession. Speaking on India Today, Rajan highlighted that 15-20 percent of world energy sources are already shut in, and prolonged conflict would require ‘tremendous demand destruction.’ He noted India’s vulnerability, with 50 percent of crude oil imports and 85 percent of LPG supplies exposed through the Strait of Hormuz. Rajan cautioned that a $10 increase in oil prices adds approximately $17 billion to India’s current account deficit, roughly 0.5 percent of GDP. He emphasised that while India’s one lakh crore economic stabilisation fund can provide short-term relief, the government lacks fiscal room for prolonged subsidies and must allow price adjustments to reach consumers and producers. Rajan also stressed the need for strategic resilience planning, including building petroleum reserves and diversifying supply chains for critical inputs like pharmaceutical APIs and semiconductor chips.
#RaghuramRajan #OilPrices #GlobalRecession #itwebvideos #IranWar #USIsraeliWar #IndiaEconomy #Inflation #StraitOfHormuz #CrudeOil #LPG #EnergyCrisis #Stagflation #GeopoliticalRisk #StrategicResilience #FiscalDeficit #RBI #IMF #IndiaToday #EconomicStabilisation
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!
For more updates, subscribe our channel: https://www.youtube.com/channel/UCYPvAwZP8pZhSMW8qs7cVCw?sub_confirmation=1
For LIVE updates, analysis, and expert opinions — only on India Today
NewsToday with Rajdeep sardesai: https://youtube.com/playlist?list=PLPPKwCCueQ_BDuN36y_c4eIFbbsTWudmi&si=Afk5JfoGFBsX8lvH
India First with Gaurav Sawant: https://youtube.com/playlist?list=PLPPKwCCueQ_BFk7nVk4khuMvyci5nuX4Z&si=iYuw0hIt9NTcrcOo
To The Point with Preeti Choudhry: https://youtube.com/playlist?list=PLPPKwCCueQ_AARG0z9XWZ3_lMCiLlMzfD&si=5AewBYYZZC-GkCny
NewsTrack with Marya Shakill: https://youtube.com/playlist?list=PLPPKwCCueQ_AzhqTbhMb8kfaauJmeH_IQ&si=Pzh_FY-lYsSoSEVJ
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
