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Nation Current Affairs 16 Oct 2018 PM Modi: High crude ...

PM Modi: High crude prices hurting global growth

DECCAN CHRONICLE. | ANIMESH SINGH
Published Oct 16, 2018, 2:46 am IST
Updated Oct 16, 2018, 2:46 am IST
This in turn, could have a severe impact on the rupee, he cautioned.
PM Narendra Modi
 PM Narendra Modi

New Delhi: Expressing concern over rising global crude prices, which have led to  spiralling petrol and diesel prices in the country — an issue which has snowballed into a major political issue — Prime Minister Narendra Modi on Monday categorically said that if the trend continues, then it would hit the purchasing power of the common man and affect the demand & supply chain of consuming nations like India.This in turn, could have a severe impact on the rupee, he cautioned.

According to highly placed sources privy to the details of the meeting, Mr Modi while addressing a meeting of CEOs of some of the international oil majors, did not mince words and sent out a message to key oil producing nations that lack of action on their part could have a negative impact on the Indian currency, which in turn would significantly affect the consumption in India.

 

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