Fuel chal­lenge re­mains, govt ex­plores so­lu­tions

DNA (Daily News & Analysis) Mumbai Edition - - FRONT PAGE -

From P1

“In­dia’s vul­ner­a­bil­ity is in oil im­ports as it meets over 82 per cent of its crude oil re­quire­ment through im­ports. The high in­ter­na­tional prices are in­flat­ing the im­port bill. Oil im­ports have a neg­a­tive im­pact on the ru­pee and the cur­rent ac­count deficit (the dif­fer­ence be­tween the in­flow and out­flow of for­eign ex­change). The coun­try needs a sta­ble regime for oil,” sources said. Dur­ing the cur­rent fi­nan­cial year, the coun­try has so far im­ported 220 mt of crude oil. It is be­lieved that ris­ing oil prices also in­flu­ence Ru­pee’s move­ment. The meet­ing is also be­lieved to have dis­cussed im­pact of US sanc­tions on Iran.

Full re­port: dnain­dia.com

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