New Delhi, March 9 -- The impact of global crude price rise on inflation is not estimated to be substantial at this point as India's inflation is near the lower bound, the Lok Sabha was informed on Monday.
In reply to a written reply, Finance Minister Nirmala Sitharaman said the price of both global crude oil and the Indian basket has been on a declining trajectory for the past one year, till the geo-political clashes commenced in West Asia on February 28, 2026.
"Between the end of February and until March 2, 2026, the Crude Oil FOB Price (Indian Basket) rose from USD 69.01/barrel to USD 80.16/barrel. Given that India's inflation is near the lower bound, the impact on inflation is not estimated to be substantial at this point," she said....