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VOL. 10, ISSUE 4 (2024)
The impact of crude oil prices on economic growth of India: An analytical view
Authors
Navpreet Kulaar, Manjinder Kaur
Abstract
The present paper aims at exploring the impact of international crude
oil prices on the economic growth rate of India based on monthly observations
spanning January 2000 to December 2022 using ordinary least-square (OLS)
regression mechanism. The findings unveil that an increase in crude oil prices
exert significant negative impact on the Indian economic growth implying that
if the international crude oil prices increase by one unit holding other things
constant, the Indian economic growth decreases by 0.13 units. The study
signifies that Indian government should attempt to minimise the country
dependence on oil imports and other petroleum products for maintaining the
stability in the economy.
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Pages:45-48
How to cite this article:
Navpreet Kulaar, Manjinder Kaur "The impact of crude oil prices on economic growth of India: An analytical view". International Journal of Commerce and Management Research, Vol 10, Issue 4, 2024, Pages 45-48
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