$50 oil surge could wipe out 2% of India's GDP, warns Axis Bank's Neelkanth Mishra

Axis Bank's Chief Economist Neelkanth Mishra warns that sustained global energy price spikes could severely disrupt India's growth and balance of payments due to its heavy reliance on imports. While immediate consumer impact on fuel may be buffered, non-fuel energy imports could raise CPI. Mishra advises patience on interest rate hikes, expecting a short-lived conflict.