Crude import bill for 2014-15 is expected to touch $145.556 billion (or Rs. 880,615 crore). During this period India is expected to import 188.19 MMT of crude. However, net import bill is expected to be much less as the country also exports petroleum products. The net import bill, that is, after taking into account export of petroleum products, for 2014-15 is estimated at $103.366 billion (or, Rs. 625,363 crore). However, crude import bill may shoot up further if the international crude price escalates due to instability in middle east as the above estimation has been done based on average crude oil price of $105.52 per barrel with the average exchange rate of Rs. 60.50.

In addition to this, the country is expected to import 13.77 MMT of LNG during the period valued at $11,571 million (or Rs. 70,007 crore).

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