Russian oil has been flowing to Asia in greater volumes as buyers across Europe and the U.S. shun supplies, following the invasion of Ukraine. India and China have been the key buyers.
Officials say for fiscal calculations, govt assumes avg price of crude for 12 months, so no need for excise duty cut. Decision on Russia’s offer of crude supply in a few weeks.
As many as 4 import duty cuts were effected with respect to three edible oils between June and September, following a sharp rise in prices over the preceding months.
Reliance, among India's top carbon emitters, gets nearly 60% of its annual revenue from the more polluting oil-to-chemicals business. Shifting dramatically away from it is difficult.
While a raft of bearish calls predicting even worse demand this month has emerged after fuel consumption plunged in April, a closer look reveals marked differences from last year.
In an India that was post-Mughal but pre-British Raj, diplomacy, popular religion, and a constellation of genius painters created the most spectacular Ramayana adaptation ever.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
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