Preparing for cheaper oil


Preparing for cheaper oil

The sudden and sharp fall in the global price of crude oil has thrown up a set of decisions for Indian policymakers.

On the one hand, a reduction in the price of oil is always a benefit for India, which imports over 80 per cent of its crude oil. The price of the Indian basket of crude oil has averaged around $74 a barrel so far this financial year; but there is some hope that it will stay in the $55-60 range for some time, creating favourable cost conditions for the economy and hopefully stimulating the Reserve Bank of India (RBI) into cutting interest rates and giving investment and  Read More

 

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