India’s reliance on oil imports hits fresh full-year high in FY24.
Syllabus: GS-III; Subject: Economy; Topic: Trade and External sector, Issue: Oil Imports. Context: India’s reliance on imported crude oil hits a record high of 87.7% in FY24. Synopsis: Rising demand for fuel drives increased dependency despite efforts to boost domestic production. Heavy reliance on oil imports impacts trade deficit, forex reserves, and inflation. Government initiatives […]
India’s reliance on oil imports hits fresh full-year high in FY24. Read More »