Rising Oil Prices May Put Pressure On The Budget

Rising Oil Prices May Put Pressure On The Budget

The joker in the pack’ for Arun Jaitley’s critical Budget (2018-19) will be crude oil prices, which had helped in play with numbers and subsidies during his previous Budgets.

With oil prices already breaching the $60 a barrel mark for the current fiscal and a quarter still to go, the Finance Minister may have do some financial jugglery if he wants to turn this to his advantage and present a Budget that would get votes.

So what will be the average price band that would keep Jaitley in his comfort zone as he deals with the challenges of fiscal deficit and GST after-affects, among others, if he wants to keep the commitment towards social and infrastructure sectors? Will it be $65 a barrel or closer to $70 a barrel? Read More…

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