‘Fall in crude oil price beneficial to India’ - Central Finance Secretary info
Posted on: 16/Oct/2014 2:35:03 PM
Secretary of the Central government’s Department of Finance, Mr. Arvind Mayaram, informed that the trend in the continuous fall of crude oil prices in the international market is beneficial for India.
However, we need not expect a great fall in the crude oil price. The minister told the government’s burden of the subsidy on petroleum products will come down.
This will help counter the budget deficit. With the trend of continuing fall in crude oil prices in the international market, the price of petrol has been reduced a few times over the last 2 months.
Also, the oil corporations have earned a profit of Rs. 1.90 per litre on diesel oil.
