Oil Price Hike: Strong Demand Boosts Prices | CNBC TV18

Remaining non-committal on cutting excise duty to ease the burden from rising oil prices, government said today that the recent spurt in global rates is a matter of concern as it could inflate import bill by as much as USD 50 billion and impact current account deficit (CAD). Economic Affairs Secretary Subhash Chandra Garg said however that economic growth will not be impacted by the rise in oil prices, which have touched USD 80 per barrel -- highest since November 2014. CNBC-TV18 is India's No.1 Business medium and the undisputed leader in business news. The channel's benchmark coverage extends from corporate news, financial markets coverage, expert perspective on investing and management to industry verticals and beyond. CNBC-TV18 has been constantly innovating with new genres of programming that helps make business more relevant to different constituencies across India. India's most able business audience consumes CNBC-TV18 for their information & investing needs. This audience is highly diversified at one level comprising of key groups such as business leaders, professionals, retail investors, brokers and traders, intermediaries, self-employed professionals, High Net Worth individuals, students and even homemakers but shares a distinct commonality in terms of their spirit of enterprise. Subscribe to our Channel: https://goo.gl/hKwgtm Like us on Facebook: https://www.facebook.com/cnbctv18india/ Follow us on Twitter: https://twitter.com/CNBCTV18News Website: http://www.moneycontrol.com/cnbctv18/