INDIA: Oil import bill surged 43% to Rs 7,263 billion rupees in year to March 2012. Government pressured to cut subsidies.

摘要

India's total oil import bill surged more than 43% to a new high of 7,263.9 billion rupees in the last financial year to March 31 2012.Officials blame the declining value of the rupee, increased oil prices and India's growing fuel consumption for the record oil bill.Rising product exports failed to dent its growing oil deficit which also reached a record 4,417 billion rupees. (US$1=56 rupees).India expended 6,722 billion rupees on crude imports and 541.7 billion rupees on products for the year, compared with more than 4,552 billion rupees and 521 billion rupees on the two items the previous year.The value of its product exports rose 44.6% to 2,846 billion rupees.