In an interview to discuss the impact of rising oil prices – which recently touched $126 per barrel – on both the world economy and India’s economy, former Chief Statistician Pronab Sen said that rising oil prices could reduce India’s expected GDP growth by up to 2.5%. “We should be mentally prepared to face somewhere between 2-2.5 percentage points of decline in our expected growth.” Sen agreed that this was a fairly substantial fall.Watch the full interview.