The National Democratic Alliance (NDA) government at the centre was fortunate to take the reins of the government in 2014, at a time when global oil prices were on a downward journey, a great relief for India — one of the top global crude importers — saving precious foreign exchange and controlling inflationary pressures. But NDA’s honeymoon seems to be ending now with surging global oil prices. A challenging situation confronts the Centre.
That said, the prediction of normal southwest monsoon for India in 2018 — a cheer for the farmers — is a good omen and welcome news for consumers
