Due to this India is now expected to grow by 7. We marginally revise up our FY19 CPI inflation estimate to 4.3 per cent in 2018-19 against earlier forecast of 7.“A rise in crude oil prices would tend to increase total imports, resulting in a dampening impact on growth.“Indeed, in the current fiscal year net FPI outflows of . Apart from the slowdown in the economic growth, Yes Bank said it expects net FPI inflows to slowdown from billion in FY18 to zero in FY19, due to investors concerns on risks facing fiscal. Crude oil is also likely to push up the retail inflation.Though the resumption of shale oil production could soften the impact of the Opec supply cut, the shale oil production too has remained slow to pick up pace.

New Delhi: India’s macro-economic indicators are expected to take a hit this year, with crude oil expected to remain elevated at a barrel.“India is a net importer of crude oil, accounting for 45 per cent share in net merchandise imports.7 per cent previously), reflecting a stronger rise in fuel inflation,” it said.However, it said that some of the upside risk to CAD could be moderated by higher remittance inflows, which tend to pick-up when oil prices rise. We estimate that an increase of per barrel in crude oil prices would result in petroleum trade deficit rising by billion,” it said.Fuel accounts for 9.5 per cent, it said.9 Extruder screw barrel per cent (from 4..4 billion have been seen till May,” said the bank.

“As per our estimates, a per barrel rise in crude oil prices would result in around 12 per cent rise in remittances.2 per cent weight in the CPI index and the rise in crude oil prices (along with impact of rupee depreciation) have been partially passed on to consumers.6 per cent of GDP, reflecting a stronger pick-up in trade deficit, which is partly balanced by stronger performance in services exports and a rise in remittances. However, there is only a marginal downward revision, as the growth is expected to be supported by twin engines of consumption and gradual recovery in capex cycle in FY19,” a report by Yes Bank said.Yes Bank revised its FY19 current account deficit (CAD) to 2.Crude oil prices have remained high in the recent past due to production cuts by Opec and a gradual recovery in the global economic growth