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Role of Currency in Fuel Price
“We invented money and we use it, yet we
cannot understand its laws or control its
actions....
India Demand of Oil
• The countries of India and China are growing their
economies and so have an increased need for energ...
Reasons for Fall of Rupee against
dollar
• Dollar strength
• Current Account Deficit (CAD)
• Poor Economic Growth
Remedies
• The customs duty on several red-hot imports
like gold, oil and silver is on the rise as it’s a
strategic moveme...
Currency affecting fuel
Currency affecting fuel
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Currency affecting fuel

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The countries of India and China are growing their economies and so have an increased need for energy.
In India Oil imports constitute over 80% of India's total domestic oil consumption
Oil consumption in India is slated to grow by over 4% during the next 10-15 years
India to overtake Japan to become third-largest oil consumer

Published in: Law
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Currency affecting fuel

  1. 1. Role of Currency in Fuel Price “We invented money and we use it, yet we cannot understand its laws or control its actions. It has a life of its own.” - Lionel Trilling, American literary critic.
  2. 2. India Demand of Oil • The countries of India and China are growing their economies and so have an increased need for energy. • In India Oil imports constitute over 80% of India's total domestic oil consumption • Oil consumption in India is slated to grow by over 4% during the next 10-15 years • India to overtake Japan to become third-largest oil consumer
  3. 3. Reasons for Fall of Rupee against dollar • Dollar strength • Current Account Deficit (CAD) • Poor Economic Growth
  4. 4. Remedies • The customs duty on several red-hot imports like gold, oil and silver is on the rise as it’s a strategic movement by the central government to ease the gap between dollar and rupee. • NRI bank deposits can be made more attractive and foreign loan norms eased. • The government has also decided on three public sector institutions based on finances to raise funds in dollars through bonds. • Electronic goods top the list when it comes to making big business. In order to stabilize rupee a significant increase in customs duty on Electronic goods needs to be exercised. • Another point that can be kept on the anvil is that some imports should be denied. The products can include crude palm oil, copper and certain varieties of coal.

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