Costlier crude oil is widening the current account deficit and weakening the rupee
The Centre’s 4.3% fiscal deficit target now looks increasingly difficult to maintain
Fuel excise duty cuts could lower government revenues by nearly ₹1.5 trillion annually
Higher global prices may push fertiliser subsidy spending up by almost 20%
OMCs are facing steep monthly under-recoveries, making government support likely
The government may need spending adjustments while protecting capital expenditure