Rhys Blakely in Bombay : In the shorter term India must pray that the global oil market subsides. The country imports 70 per cent of the oil it uses and heavily subsidises domestic fuel prices to keep them within reach of its vast poor population.
“Given the inflation challenge, the fiscal and current account position, one might say oil prices are the most critical thing for India in the next six months or so,” Mr O'Neill said.
“Given the inflation challenge, the fiscal and current account position, one might say oil prices are the most critical thing for India in the next six months or so,” Mr O'Neill said.
clipped from business.timesonline.co.uk
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