Ukraine crisis: Growth, demand to take a hard hit, deficit to soar

New Delhi, March 7 The Russia-Ukraine crisis-led global hike in crude oil prices to $130 per barrel is expected to trigger an inflationary trend in India which will dent growth as well as demand recovery.

The inflationary blow is expected to push up prices of everything from food items to manufactured goods.

Besides, the trend might force the Reserve Bank of India's Monetary Policy Committee to raise key lending rates, thereby hitting automobile and housing markets.

Already, India's main inflation gauge Consumer Price Index

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