Impact of changes in global crude oil prices on the Indian economy

Oil is a crucial component in nearly every country's economic activities. “As result, an increase its price likely to have negative impact on the expansion of oil-importing nations like India. The purpose this paper investigate how oil affects India's growth see if there co-integration relationship between growth, price, capital formation, and inflation. Crude always has lower starting but import taxes make it more expensive for average person. cost petroleum or other related items increments as needs be which brings about consumption everyday This attempts explain significance reducing crude imports raise person's standard living provides insight into current state imports. In order avoid rise prices subsequent study suggests that government should refrain from imposing additional taxes.”