India is likely to save about $17 billion this fiscal year on crude oil import bill due to easing crude oil prices.
According to the study, the oil import bill for the current fiscal year would have soared to $125 billion had crude oil prices remained at $145 per barrel.
However, with the reversal in price movement to the current $110-120 a barrel, the import bill for crude oil would be restrained to $108 billion.
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India to Save its Budget Thanks to Softened Crude Prices
The recent softening in crude oil prices is likely to help India save about $17 billion this fiscal year on crude oil import bill
