 "Chief Economic Adviser V Anantha Nageswaran")
The country’s external sector could face some anxious moments this financial year, as the proposed oil price cap on global crude could instead serve to raise those instead, said V Anantha Nageswaran, chief economic adviser to the finance ministry, on Saturday.
“The way the oil price cap is being discussed has encouraged oil and gas traders to stock up on volumes, creating unintended consequences. This could create additional pressure on our balance of payments”, he said at the release of NCAER’s mid-year review of the economy, on Saturday.
G7 nations have signed a plan, under which companies buying Russian oil and natural
