Plunging Crude Oil Prices Boon for Indian Economy

Plunging global crude oil prices are turning out to be a boon for India, a country which is heavily dependent on oil imports. Cheaper oil is boosting the government’s efforts to lift the economy from a deep slump. For decades, subsidies on energy in India have been a huge drag on government finances, but efforts to roll them back have been stalled by a public and political outcry. However, the nearly 25 percent slide in international crude prices since June provided a rare opportunity...

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