Sakshi Education
- On February 24, 2022, Prime Minister Narendra Modi presided over a crucial meeting of Cabinet Committee on Security (CCS) to discuss the crisis led by Russia’s military operations in Ukraine.
- Modi also spoke to Russian President Vladimir Putin on this issue.
- Meeting was held on a day when global Brent crude oil increased to more than 8% to cross USD 105 a barrel in intra-day trade. It is the highest since 2014.
- Price increased as Russia’s attack in Ukraine raised concerns about disruptions in global energy supply.
- During the meeting, macro-economic impact of the Russia-Ukraine crisis on India was deliberated upon, amid increase in global crude oil prices and slide in stock markets.
- It was centred around potential steps of minimising spill over effect of this conflict on Indian economy.
- If oil prices continue to increase, Indian government might be forced to cut fuel taxes in order to soften the blow to consumers.
Published date : 26 Feb 2022 03:18PM
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