Why India cannot cheer oil price fall wholeheartedly this time
NEW DELHI: The windfall gains associated with a massive decline in global crude oil prices may not materialise this time for India in entirety.
Brent futures dropped to $36 per barrel in early deals on Monday, falling nearly 30% in a single session. Brent had traded around $50 per barrel a month ago.
If these levels sustain, it would surely reduce the import bill of India and therefore the current account deficit by a big margin.
