Oil price biggest risk for Indian economy: Moody’s survey

Oil price biggest risk for Indian economy: Moody’s survey

Oil price biggest risk for Indian economy: Moody’s survey

A majority of Indian and foreign investors consider that high oil prices have emerged as a significant risk to the Country’s economy, Moody’s Investors Service said recently.

The US rating agency’s report is based on a survey of 175 respondents, including from over 100 financial institutions at the annual India Credit Conference in Mumbai and Singapore held in June.

Investors were asked questions on issues like top risks facing the Indian economy, fiscal deficit, the recapitalizsation package for public sector banks and credit conditions for Indian corporates among others.

“Most of the respondents highlighted high oil prices as the top risk while 30.3 per cent of those in Singapore picked rising interest rates as the next top risk and 23.1 per cent of those in Mumbai picked domestic political risks as the second top risk,” Moody’s Vice President Joy Rankothge said in the report.

Mansa

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