India shaking off GST roll-out woes, but oil price a risk: S&P

India shaking off GST roll-out woes, but oil price a risk: S&P

S&P Global Ratings on Tuesday said the Indian economy is shaking off its post-GST implementation woes but risks from higher oil prices have reappeared. In its report S&P said overall economic risks in India remain low with pick up in industrial output and bank credit.

International oil prices have been rising, which has also led to increased prices of petrol and diesel. A majority of India’s import bill stem from crude oil purchases. Last year, during the July-September quarter, the Indian economy expanded by 6.3 per cent as manufacturing picked up and businesses adjusted to the new tax regime.

The Business Standard, New Delhi, 24th January 2018

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