Union oil minister Hardeep Singh Puri stated oil costs staying at $110/barrel may pose larger threats than inflation to the worldwide economic system.

“If oil costs stay at $110 (according to barrel) you aren’t simply speaking about inflation, then you are speaking about larger threats. , that is the place the R (recession) phrase is available in,” Puri informed CNBC TV18 in an interview at Davos.

“And if the worldwide economic system is going in that route, everybody, together with the oil manufacturers, everybody must face the results then inflation,” he stated.

India has trimmed tax charges on a number of merchandise together with fuels to tame inflation.

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