GK and monthly revision

RBI flags rising fuel-price pressures amid West Asia war, says crude is easing as Hormuz fears recede

The Reserve Bank of India (RBI) has raised concerns over the increasing fuel prices exacerbated by the ongoing conflict in West Asia, despite a recent decrease in crude oil prices. This situation has led to a decline in consumer confidence and has contributed to rising inflation rates as of May. The impact of higher input costs on manufacturing firms is significant, affecting production levels. This scenario underscores the resilience of the Indian economy amidst external pressures.