India’s oil import bill will jump due to rise in crude prices following lower output call by OPEC as well as a steep fall in the rupee, but the oil subsidy burden is unlikely to cross the budget estimate of Rs 17,000-19,000 crore this year, says a report.
The oil import will rise by $4 billion through the rest of the fiscal year if crude remains at $55 a barrel level, said the report by credit rating agency Icra
his will see the annual gross under-recoveries (GURs) on subsidised LPG and kerosene increase by Rs 1,200-1,500 crore for the current fiscal, Icra Corporate Sector Ratings head K Ravichandran said. Read More…
Latest posts by economictimes.indiatimes.com (see all)
- Easy For India To Switch To Electric Vehicles: Kant – September 7, 2017
- The expectation of reciprocity is fair: Jerome Pecresse, CEO, GE Renewable Energy – May 16, 2017
- If India meets renewables target, no more coal power needed after 2027 – April 29, 2017