Global energy price hike to concern Indian economy: IMF

15 Mar 2022 CW Team

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), told the media that India has been excellent at managing its finances. However, the price hike in global energy will harm its economy.

Gita Gopinath, First Deputy Managing Director of the IMF, had observed that the war had posed a challenge to economies across the globe, including India.

India depends heavily on energy imports, and the price is rising, which has implications on the purchasing power of Indian households.

Gopinath said that the inflation in India is around 6%, which is the upper end of the inflation band for the Reserve Bank of India (RBI). It has implications on the monetary policy in India, and it is a challenge in many parts of the world, not just India.

She added that India is an importer, and the price hike in energy will have a negative impact on its economy.

Georgieva said that she advises the members that it is the first and foremost responsibility to ensure the protection of the most vulnerable populations from the increasing prices, and not only energy but also food prices for countries will be a significant factor.

She added that the members would also be looking into monetary policy responses as to how those could be calibrated appropriately to what is happening.

Image Source

Also read: Sri Lanka urges more Indian investments to strengthen economy

Building Material

07 Nov 2025

Beyond Basics: Unique Ideas for Using Distemper Paint Colours in Your Home

Rohit and Nisha had just moved into their first rented apartment in Pune. The place had everything they wanted. Great sunlight, a tiny balcony, and affordable rent. But the walls? A dull, ugly and patchy beige that made even their colourful paintings look tired. “Let’s colour the walls,” Nisha said enthusiastically. Rohit looked at her with a calculator in hand. “You mean spend half our salary on emulsions?”Just then, their neighbour popped in and said, “I have been using distemper paint on walls for years. It is affordable, looks good, and you can wipe it clean when your friends s..

REC Approves Rs 75 billifor Brookfield’s Hybrid Energy Project

The Rural Electrification Corporation (REC) Ltd, a Maharatna non-banking finance company, has sanctioned Rs 75 billion for Brookfield’s 1,040 MW hybrid renewable energy project in Kurnool district — its largest-ever funding to a private-sector venture.Developed by Evren, a joint venture between Brookfield (51.49 per cent) and Axis Energy, the Rs 99.1 billion project integrates 640 MW of wind and 400 MW of solar power with battery storage. It is India’s first Firm and Dispatchable Renewable Energy (FDRE) project featuring state-level grid connectivity and a dedicated power purchase agreem..

Oswal Energies, Deendayal Port Partner for Green Hydrogen Project

Oswal Energies and the Deendayal Port Authority (Kandla-Gandhidham) have signed a memorandum of understanding (MoU) to jointly develop green hydrogen, green methanol, green ammonia, and a 100 million litres per day (MLD) desalination plant under the National Green Energy Initiative.The Government of India has identified Deendayal Port as one of the strategic hubs for green energy infrastructure. The collaboration aims to strengthen the port’s role in advancing sustainable energy systems, supporting India’s net-zero and energy security goals.Under the MoU, Oswal Energies will lead the devel..