Question
In India, the price of petroleum products has been deregulated mainly to
Answer: Option B
Answer: (b)
The sharp decline in the crude oil price helped the government to deregulate the price of diesel and thus reduce a huge burden of subsidy on the exchequer.
India if not a producing giant, is certainly a refining hub where it refines and markets around 220 metric million tonnes of petroleum products.
Out of this, around 160 MMT is used for domestic consumption while the rest is used for exports. Therefore, the drop in the price of oil will be a blessing for the Indian refineries and the oil marketing companies.
Was this answer helpful ?
Answer: (b)
The sharp decline in the crude oil price helped the government to deregulate the price of diesel and thus reduce a huge burden of subsidy on the exchequer.
India if not a producing giant, is certainly a refining hub where it refines and markets around 220 metric million tonnes of petroleum products.
Out of this, around 160 MMT is used for domestic consumption while the rest is used for exports. Therefore, the drop in the price of oil will be a blessing for the Indian refineries and the oil marketing companies.
Was this answer helpful ?
More Questions on This Topic :
Latest Videos
Latest Test Papers
Submit Solution