India set to take a Rs 40,000 crore blow on account of oil revenue loss

Demand in the world’s third-biggest consumer of fuel plummeted this month as the government imposed a lockdown on 1.3 billion people, restricting their mobility and shutting down most businesses. At the same time, oil prices have collapsed, further reducing tax receipts from fuel products and crude production from local fields.

from Economy-News-Economic Times https://ift.tt/2W4JrG4