Import of Crude oil,gold ,coal(whereas we have enough coal - TopicsExpress



          

Import of Crude oil,gold ,coal(whereas we have enough coal reserves) & non-essential items like electronics has been the biggest contributor to our widening CAD(currrent account deficit).Few days back in the wake to deal with this rising CAD our govt decided to import crude oil from Iran that could save around 8.47 billion US dollar . Iran, at one point of time India’s second biggest crude supplier after Iraq, has now fallen to the sixth position following our govt’s decision to cut down imports from that country under U.S. pressure .This is how our Indian govt takes decisions under US pressure even if we run into huge losses while we know " Iran is offering to sell India extra crude in rupee terms and extend a 90-day interest-free credit facility".
Posted on: Tue, 17 Sep 2013 12:06:40 +0000

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