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Crude surge pressures India’s FY25 CAD target, UBI says every $10 rise in oil may widen deficit by $15 billion, FY26 gap seen at 1.2% of GDP
Union Bank of India (UBI) projects India's current account deficit (CAD) may face pressure in FY25 due to rising global crude prices. A $10 increase per barrel could worsen the CAD by $15 billion annually. While maintaining a 0.9% of GDP forecast for FY25, UBI cautions that geopolitical tensions and commodity prices, especially oil, pose risks.
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