By Admin 
Goldman Sachs: There is relief news for crores of people of the country. Crude oil prices have fallen. After the fall in the prices of crude oil in the international market, now the possibility of increase in the prices of petrol and diesel in India has reduced significantly. Not only this, global investment bank Goldman Sachs has also increased the estimate of India’s economic growth rate. Experts believe that cheap crude oil can prove beneficial for the Indian economy in many ways.
Why did you get relief?
In recent days, after the tension between America and Iran has subsided, there has been a decline in the prices of crude oil in the international market. This has also reduced the concerns regarding oil supply. India imports a major part of its crude oil requirement. In such a situation, when oil becomes cheaper in the global market, the pressure on the government and oil companies to increase the prices of petrol and diesel also reduces.
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Goldman Sachs predictions
Goldman Sachs has increased India’s GDP growth forecast for calendar year 2026 from 6.5% to 6.8%. At the same time, the growth estimate for FY27 has also been increased to 6.5%. The brokerage says that the fall in crude oil prices will reduce inflationary pressure, reduce the burden on people’s pockets and strengthen the economy.
Inflation will also be affected
The benefit of cheaper crude oil is not limited to petrol and diesel only. This also reduces transportation costs, which can also impact the prices of food items, everyday goods and other products. Goldman Sachs has also reduced its inflation forecast for India. Along with this, the estimate of current account deficit has also been reduced as compared to earlier.
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How will India benefit?
- There will be less pressure on the price of petrol and diesel
- Will help in controlling inflation
- Government’s import bill may reduce
- There will be less pressure on the rupee
Will petrol and diesel become cheaper?
At present, no reduction in the prices of petrol and diesel has been announced by the oil companies. However, experts believe that if crude oil prices remain low for a long time, then customers may get relief in the future.
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