Putin digs a hole in Nirmala's budget ..!
Russia's President Vladimir Putin has repeatedly warned ukraine that the United States, Britain, Germany, and australia have imposed various financial sanctions on russia after it invaded and occupied two territories. international crude oil prices have touched an all-time high of about $ 100 a barrel in 2014 as russia will not stop entering ukraine in this situation. As a result, Russia's budget gap for the 2022-23 budget released by Union Finance minister Nirmala Sitharaman has plummeted. As india continues to make inroads, fuel demand in india is expected to reach new highs at a time when the economy is recovering from the corona pandemic and trade is booming.
As a result, India's crude oil demand is projected to reach 214.5 million tonnes in 2022-23, according to the Petroleum Planning and Research Organization of the Ministry of Petroleum Resources. If this measure is reached, india is expected to reach a historic peak in crude oil consumption, 5.5 percent higher than already planned. Fuel prices in india have been selling at record highs due to higher taxes, meanwhile, the corona infection has been reduced and the federal government has reduced petrol and diesel prices for 110 days without any change as fuel sales are heating up and bringing prices under control. It is said petrol price will be hiked Rs 8 per liter.
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With russia and its military unlikely to withdraw immediately, crude oil prices will remain at $ 100 for the next few months as Western nations do not immediately lift their sanctions. Thus the central government will have to spend more money to import crude oil, which will greatly increase India's fiscal deficit and import costs.
This will inevitably affect the growth of India. While the federal government has already increased its ethanol blending dosage to reduce crude oil imports, the federal government may try to reduce crude oil imports by not only reducing excess sugar reserves by increasing the production of sugar and grains into biofuels.
Russia's President Vladimir Putin has repeatedly warned ukraine that the United States, Britain, Germany, and australia have imposed various financial sanctions on russia after it invaded and occupied two territories. international crude oil prices have touched an all-time high of about $ 100 a barrel in 2014 as russia will not stop entering ukraine in this situation. As a result, Russia's budget gap for the 2022-23 budget released by Union Finance minister Nirmala Sitharaman has plummeted. As india continues to make inroads, fuel demand in india is expected to reach new highs at a time when the economy is recovering from the corona pandemic and trade is booming.
As a result, India's crude oil demand is projected to reach 214.5 million tonnes in 2022-23, according to the Petroleum Planning and Research Organization of the Ministry of Petroleum Resources. If this measure is reached, india is expected to reach a historic peak in crude oil consumption, 5.5 percent higher than already planned. Fuel prices in india have been selling at record highs due to higher taxes, meanwhile, the corona infection has been reduced and the federal government has reduced petrol and diesel prices for 110 days without any change as fuel sales are heating up and bringing prices under control. It is said petrol price will be hiked Rs 8 per liter.With russia and its military unlikely to withdraw immediately, crude oil prices will remain at $ 100 for the next few months as Western nations do not immediately lift their sanctions. Thus the central government will have to spend more money to import crude oil, which will greatly increase India's fiscal deficit and import costs. This will inevitably affect the growth of India. While the federal government has already increased its ethanol blending dosage to reduce crude oil imports, the federal government may try to reduce crude oil imports by not only reducing excess sugar reserves by increasing the production of sugar and grains into biofuels. 
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