{"id":443055,"date":"2021-10-18T08:39:20","date_gmt":"2021-10-18T03:09:20","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=443055"},"modified":"2021-10-18T08:53:53","modified_gmt":"2021-10-18T03:23:53","slug":"oil-alarm-indias-oil-import-bill-at-67-of-fy21-in-just-5-months-of-fy22","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-alarm-indias-oil-import-bill-at-67-of-fy21-in-just-5-months-of-fy22\/","title":{"rendered":"Oil alarm: India&#8217;s oil import bill at 67% of FY21 in just 5 months of FY22"},"content":{"rendered":"<p>The sharp economic recovery and rising demand post the second wave of Covid coupled with a spike in global oil prices may pose a challenge for the government in FY22 to maintain fiscal discipline amid good growth in tax revenue.<\/p>\n<p>Country&#8217;s crude oil Import bill that fell drastically last year in the absence of demand and soft oil prices, has risen by over 138 per cent in April-August of FY22 to $ 42 billion, up from close to $ 18 billion the same period of last year.<\/p>\n<p>During the period, crude has jumped by about 40 per cent from $60 a barrel to more than $85 a barrel now. This price pressure has come when demand for petroleum products is on a rise in the country already reaching pre-Covid levels and rising.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sharp economic recovery and rising demand post the second wave of Covid coupled with a spike in global oil prices may pose a challenge for the government in FY22 to maintain fiscal discipline amid good growth in tax revenue. Country&#8217;s crude oil Import bill that fell drastically last year in the absence of demand and soft oil prices, has risen by over 138 per cent in April-August of FY22 to $ 42 billion, up from close to $ 18 billion the same period of last year. During the period, crude has jumped by about 40 per cent from $60 [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-443055","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/443055","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=443055"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/443055\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=443055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=443055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=443055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}