September 27, 2024 4:23 PM

Govt may save over Rs 60,000 crore on crude imports this fiscal: experts

The Indian government could potentially save up to Rs 60,000 crore on crude oil imports this fiscal year due to a decline in global crude prices, according to experts. The international market has seen a softening of crude prices, offering India an opportunity to reduce its import bill compared to the previous year. Estimates suggest that for every USD 1 per barrel drop in crude prices, India saves approximately Rs 13,000 crore annually on its import bill. The 2024 Economic Survey had forecaste...