India's demand-side push could build USD 37.8 billion forex shield as high oil prices threaten fiscal stability: Brickwork Ratings
· economictimes.indiatimes.com
With crude prices likely to stay above USD 100 per barrel for the rest of 2026 and the rupee under pressure near INR 95/USD, Brickwork Ratings says Prime Minister Modi's seven behavioural appeals could provide India with a USD 37.8 billion forex buffer this fiscal year. The report argues that voluntary demand reduction across fuel, gold and fertilizers may offer the government fiscal breathing room at a time when its ability to absorb oil price pass-through is thinning.
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