The conversation between human and AI assistant.
What are the impacts (both positive & negative) of declining crude oil prices on Indian economy?
How does the Indian government respond to the declining crude oil prices?
In response, the Indian government may consider passing on some of the benefits of lower crude oil prices to consumers by reducing taxes on petroleum products, such as petrol and diesel. Alternatively, the government may choose to use the savings from the reduction in the import bill to invest in other sectors of the economy.