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India

Why Has The Indian Consumer Got No Relief Despite The Freefall In Oil Prices?

By - A Staff Writer | 12 Feb 2016 8:15 AM GMT

[video type='youtube' id='Tyn1tQjRv24' data-height='365']

Crude oil prices have dropped 75% in 15 months and are at a 11-year low but Indian consumers have not reaped the benefits. Oil prices in India continue to remain at high levels and the government has in fact increased the excise duties multiple times in the last two months. BOOM founder-editor, Govind Ethiraj questions the government’s move.