India’s oil import bill falls 10 per cent in FY 20

New Delhi: At least in the oil sector, the global health emergency posed by the spread of the novel coronavirus has come to the country’s advantage.

India’s oil import bill has fallen close to 10 per cent in FY20 as the increasing spread of coronavirus and demand squeeze globally has depressed the crude oil prices to about 30 a barrel now against a high of over $ 70 a barrel in September and again in January this year.