{"id":354387,"date":"2020-05-30T10:26:41","date_gmt":"2020-05-30T04:56:41","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=354387"},"modified":"2020-05-30T10:26:41","modified_gmt":"2020-05-30T04:56:41","slug":"indias-crude-oil-import-bill-fell-by-10-in-fy20","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indias-crude-oil-import-bill-fell-by-10-in-fy20\/","title":{"rendered":"India&#8217;s crude oil import bill fell by 10% in FY20"},"content":{"rendered":"<p>NEW DELHI : As the crude oil market fell into a bear mode following the global spread of coronavirus, India&#8217;s oil import bill also fell by about 10% in FY20. According to provisional data from Petroleum Planning and Analysis Cell (PPAC) of the petroleum ministry, India&#8217;s oil import bill went down to $101.4 billion in FY20 as against $111.9 billion in previous fiscal FY19.<\/p>\n<p>Crude oil prices have fallen to about $30 a barrel now as against a high of over $70 a barrel in September and again in January this year. A one dollar fall in crude oil price results in reducing country&#8217;s import bill by almost \u20b92,900 crore while a rupee fall in value of currency against dollar results in increased spending by up to \u20b92,700 crore.<\/p>\n<p>The lower import bill last year came even as quantum of imports increased marginally to 227 million tonnes (MT) from 226.5 MT reported in the previous fiscal. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI : As the crude oil market fell into a bear mode following the global spread of coronavirus, India&#8217;s oil import bill also fell by about 10% in FY20. According to provisional data from Petroleum Planning and Analysis Cell (PPAC) of the petroleum ministry, India&#8217;s oil import bill went down to $101.4 billion in FY20 as against $111.9 billion in previous fiscal FY19. Crude oil prices have fallen to about $30 a barrel now as against a high of over $70 a barrel in September and again in January this year. A one dollar fall in crude oil price [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-354387","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/354387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=354387"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/354387\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=354387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=354387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=354387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}