With crude prices rising, what does India have to worry about?

Crude prices have hit the $50-a-barrel mark for the first time in seven months, an 80% increase since January. Declining prices in 2014 and 2015 contributed substantially to India’s fiscal performance in the Modi government’s fi rst two years. With prices rising, what does India have to worry about? Himangshu Watts & Ashutosh R Shyam report