New Delhi: At a time when USA is under debt crises and has lost its famed AAA rating, Indian economy is likely to face its impact. But certain positive changes are expected too.

According to the experts, the present economic scenario of Europe and America will help to cut down the skyrocketing price of petrol and diesel in India. Also, relief from food inflation is expected.

The price of crude oil in the international market is adversely affected by less demand from USA. In the year 2008-09, during global recession, crude oil price plunged from 145 dollars per barrel to 50 dollars per barrel. It is expected it will happen this time as well.

Presently, one barrel of crude oil costs 107 dollars in international market. Last time when Indian government decided to increase the cost of diesel, Kerosene and LPG gas, crude oil was 95 dollars per barrel. In present circumstances, if crude oil prices decrease to less than 95 dollars, it will help to cut down the retail price.

Besides, economic crises will attract investors towards gold.  The Commodity market expert of Angel Broking, Naveen Mathur said that owing to the dip in the share market, investment in gold will increase one again. In such a situation, the cost price of gold will touch new heights. Another expert said that within few weeks festival season is about to begin, which will increase the gold price. But silver price is expected to fall.

Experts are of the view that present trend of global market will affect the commodity market. Especially, if China's economy falters, it will affect the food market globally. In international market, eatable oil, sugar, milk and its product, wheat and other food products price will be reduced.

Apart from this, debit crises in America and Europe will bring down the bank debit rate. According to the FICCI reports, Indian industry cannot bear the burden of debit rate at a time when global demand is less. Therefore, RBI will cut the debit rate as they did during 2008-09 global recession. It will make home loan and other bank loans cheap.

(JPN/Bureau)