CEA lists four channels of shocks [a] oil price [ not supply ] channel [b] impact on trade in general [c] logistics cost pack which is going to be sticky [insurance and freight] [d] remittance shock–we get $120 billion of which $ 30-40 billion come from gulf region–[2] CEA further asserts  –” India is better prepared than others because we have some fiscal leverage “Courtesy BL