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Russia-Ukraine crisis underscores lack of integrated energy policy in India

If India has to partially insulate itself, then oil companies must be given leeway to manage oil price risks

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Higher fuel prices feed into household expenditure

S Dinakar New Delhi
The consequences of the conflict between Russia and the Western powers over Ukraine have started resonating across a fragile Indian economy. While there are widespread concerns over volatility in crude oil prices, swings in liquefied natural gas (LNG) rates are a bigger concern for India. The crisis is a wakeup call to New Delhi to address its energy policies in totality, introduce real price reforms, prioritise resources to the most deserving sectors, such as energy storage, and stop vote banks from hijacking fuel pricing.

At stake is energy security. India depends on imports to meet 85 per cent of its

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First Published: Feb 25 2022 | 6:02 AM IST

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