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Latest Articles in anup jayaram

Oil’s Well For A Fit Economy

The one thing finance minister Arun Jaitley does not have to worry about much in this budget is how to meet the fiscal deficit target of 4.1 per cent. Much of that work is being done outside of the country: the Organisation of Petroleum Exporting Countries (OPEC) has decided to not reduce crude oil production. In the process, global crude oil prices are tumbling by the day. In the 200-odd days that Narendra Modi has been in power, the India basket of crude has fallen by almost 60 per cent from $108.05 a barrel (on 26 May) to $43.36 a barrel (on 14 January).

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