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Government Looking At Viable Options To Procure Cheaper Crude: Report

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Government Looking At Viable Options To Procure Cheaper Crude: Report
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Government has said that GatiShakti will offset consequences of geopolitical tensions

Though geo-political tension triggered by the conflict between Russia and Ukraine have not ceased and the economic fallout of the crisis is only gradually unfolding in the form of global food shortages and rising Brent crude oil prices, the government is exploring all viable options like import diversification to procure crude oil at affordable prices.

In the economic review for the month of March 2022, released by the Finance Ministry on Thursday, it has been mentioned that to offset the consequences of geopolitical conflicts, GatiShakti and production linked incentives schemes will drive investment, which will deliver high-post-recovery growth for the Indian economy.

The review further noted that transient shocks may not have a big effect on real growth and inflation.

 

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