Interview with Dr. Suma Singh Dean of Humanities Associate Professor Dept of Economics Mount Carmel College, Bengaluru
Interview with Dr. Suma Singh, Dean of Humanities Associate Professor Dept of Economics Mount Carmel College, Bengaluru By Malini Shankar Digital Discourse Foundation How will the oil glut affect oil pricing in the near term and long term for India? - Well the slide in oil prices is largely triggered by the excess supply given the drastic fall in demand worldwide due to the pandemic. The slide is good news for economies like India who are major oil importers. Technically the fall in world oil prices should have translated to lower retail prices in India. Unfortunately the economic crisis post Covid-19 has meant the revenue resources for Government Of India have dried up. We can expect drastic fall in GST collections for March, April and May. But Government Of India must open its coffers to ensure saving of Jaan and Jahaan. In such circumstances the customs and excise duty on petrol and diesel are the main income sources for Government Of India. So we can't