{"id":471197,"date":"2022-02-26T08:37:15","date_gmt":"2022-02-26T03:07:15","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=471197"},"modified":"2022-02-26T08:47:27","modified_gmt":"2022-02-26T03:17:27","slug":"rising-oil-can-burn-rs-1-trillion-hole-in-govt-coffers-in-fy23-sbi-report","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/rising-oil-can-burn-rs-1-trillion-hole-in-govt-coffers-in-fy23-sbi-report\/","title":{"rendered":"Rising oil can burn Rs 1-trillion hole in govt coffers in FY23: SBI report"},"content":{"rendered":"<p>Rising oil prices that have shot up over 21 per cent in the past one month to hit $105 a barrel recently in the backdrop of the ongoing Russia \u2013 Ukraine geopolitical conflict spell trouble for the Indian government and can upset its fiscal math. <\/p>\n<p>According to a report by the economic wing of State Bank of India (SBI), rising crude oil prices can burn a hole as big as Rs 1 trillion in government\u2019s coffers in fiscal 2022-23 (FY23). Despite the rise in oil prices, the Indian government has kept a lid on the retail selling prices of auto fuels \u2013 petrol and diesel \u2013 unchanged since November 2021 as a populist measure given the impending assembly elections across five states.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rising oil prices that have shot up over 21 per cent in the past one month to hit $105 a barrel recently in the backdrop of the ongoing Russia \u2013 Ukraine geopolitical conflict spell trouble for the Indian government and can upset its fiscal math. According to a report by the economic wing of State Bank of India (SBI), rising crude oil prices can burn a hole as big as Rs 1 trillion in government\u2019s coffers in fiscal 2022-23 (FY23). Despite the rise in oil prices, the Indian government has kept a lid on the retail selling prices of auto [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-471197","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/471197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=471197"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/471197\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=471197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=471197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=471197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}