Oil Prices Current Affairs, GK & News

Asian Development Outlook (ADO) 2022

India’s GDP growth has been forecasted by the Asian Development Bank (ADB) to 7.5 per cent in 2022-23 from 2021-22’s estimated 8.9 per cent. The report has also suggested that the growth will pick up and reach 8 per cent in 2023-2024. Overview: The Russia-Ukraine conflict’s implications have been factored in by the ADB for ..

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Kazakhstan Protests and Emergency

The citizens of Kazakhstan are protesting against the sudden fuel price hike. The ruling government resigned due to the rising tensions. Emergency has been declared in the Central Asian country Why protests in Kazakhstan? The protests began when the ruling government of Kazakhstan lifted the price controls of Liquified Petroleum Gas. The prices quickly doubled ..

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Wholesale Price Index, WPI of April 2021

The Department for Promotion of Industry and Internal Trade recently released Wholesale Price in India for the month of April 2021. The WPI for the month of April 2021 stood at 128.1. The base year in calculating WPI is fixed as 2011-12. WPI of April 2021 The annual rate of inflation for the month of ..

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Russia’s central bank increases interest rates

The Central Bank of Russia has increased the interest rate from 4.5% to 5%. Why did the Bank increase the interest rates? This is the second time the apex bank is increasing the interest rates due to elevated inflation pressure. According to the bank, the inflation in the country will be in the range of ..

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India’s Petroleum consumption contracts 9.1% in FY21

The Petroleum Planning and Analysis Cell operating under Ministry of Petroleum recently released a report on petroleum consumption of India. According to the report, fuel consumption of the country reduced by 9.1% in the year 2020-21 as compared to that of the previous year. This is the first time the petroleum consumption contracted to the ..

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Monthly Economic Review: March 2021

The Ministry of Finance recently released the Monthly Economic Review for March 2021. According to the report, the Indian Economy is recovering from COVID-19 crisis. The report has highlighted several indicators that prove economic recovery in the country. Key Findings of the report The Agricultural sector remains the bright spot of the Indian Economy. The ..

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