An integrated energy policy

With oil bonanza over, time for a relook at energy options

India’s three-year run of oil bonanza now seems to be truly over. In 2014-15, the first year of the National Democratic Alliance government under Prime Minister Narendra Modi, the average price of the Indian basket of crude oil fell to $84 a barrel, a drop of about 20 per cent over that in the previous year. In 2015-16, the annual drop was even higher at 45 per cent with the average price of the Indian basket of crude oil hovering at around $46 a barrel. The average price in the following year increased only marginally to $48 a barrel, but