With govt's economy booster, oil is once again turning PM Modi’s friend

The price drop could not have come at a better time and will support steps to revive growth. Cheaper oil keeps macroeconomic parameters such as CAD (current account deficit) and inflation in the comfort zone by reducing crude import and subsidy bills. Low oil prices will help boost demand and reduce input cost for farmers who use diesel to run farm equipment.

from Times of India https://ift.tt/2NtMq8G