How has the decline in the price of crude oil in the international market help the government to reduce fiscal deficit?
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With the global crude oil prices on a downward spiral in the backdrop of coronavirus outbreak, analysts are expecting a perfect storm in the energy markets that will help major consumers such as India manage inflationary and fiscal pressures.
International benchmark Brent crude oil prices dropped with it trading at $52.18 per barrel. Crude prices hit a record $147 per barrel in July 2008.
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