The Economic Times

Fuel price shield helping India and consumers to tackle West Asia crisis: Gita Gopinath

India is already cushioning the economy from the West Asia crisis. Gita Gopinath, former IMF Deputy Managing Director, states the government is limiting fuel price hikes. This acts as an implicit subsidy. She advises more targeted support for vulnerable households and businesses instead of broad fuel subsidies. This approach helps where needed most and avoids economic distortions.