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The last year of the current National Democratic Alliance government (2018-19) could be very similar to its first year (2014-15) in terms of its ability to manage India’s current account and to earn substantial revenue from retail sale of petroleum products, if current oil prices are taken as representative for the year.
Crude oil price for Indian basket touched $75 per barrel on May 9 after 41 months — last such instance was in the first week of December 2014 — as Brent crude prices rose 6 per cent in the first 10 days of the month from $73 to
