Dependence on crude oil import rises under four years of Modi govt

This comes at a time when the government is reportedly planning a 'windfall tax' on oil producers

Despite Prime Minister Narendra Modi's call in 2015 for a 10 per cent reduction by 2022 in the country’s import of crude oil, these have risen 16.4 per cent in the four years of this government — while domestic production declined 4.7 per cent. 

Data from the Petroleum Planning and Analysis Cell, an official body, show our import dependency on crude having risen from 78.3 per cent in 2014-15 to 82.8 per cent in 2017-18. In absolute terms, from 189.4 million tonnes (mt) then to 220.4 mt in FY18. While domestic production dropped from 37.5 mt to 35.7 mt. 

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