Loading…
India's crude oil import dependence recently reached a historic high of nearly 91% of its total requirement.
More than half (54%) of these crude oil imports originated from the West Asian region.
This increased reliance on West Asia poses significant energy security challenges amidst regional geopolitical uncertainties.
India is the world's third-largest consumer and importer of crude oil.
Higher crude oil imports at elevated prices can widen India's CAD, impacting its balance of payments.
Rising international crude oil prices directly translate to higher domestic fuel prices, contributing to inflationary pressures.
India maintains SPRs to mitigate supply shocks, a crucial aspect of its energy security strategy.
The high dependence underscores the need for India to diversify its crude oil suppliers and invest in renewable energy.
Maintaining stable diplomatic ties with West Asian nations is critical for ensuring uninterrupted oil supplies.
GS-II (International Relations), GS-III (Indian Economy, Energy Security)
General Awareness (Economy, Geography)
General/Financial Awareness (Economy, International Trade)
General Awareness (Economy, Geography)
General Awareness (Geopolitics, International Relations)
Which of the following are associated with 'Planning' in India? 1. The Finance Commission 2. The National Development Council 3. The Union Ministry of Rural Development 4. The Union Ministry of Urban Development 5. The Parliament Select the correct answer using the code given below.
Answer: 2 and 5 only
With reference to 'Stand Up India Scheme', which of the following statements is/are correct? 1. Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs. 2. It provides for refinance through SIDBI. Select the correct answer using the code given below.
Answer: Both 1 and 2
The main objective of the 12th Five-Year Plan is
Answer: faster, sustainable and more inclusive growth
High for economy and international relations sections across various competitive exams.
Unrefined petroleum, a fossil fuel, extracted from the earth and processed into various products like gasoline, diesel, and jet fuel.
The uninterrupted availability of energy sources at an affordable price.
A measurement of a country's trade where the value of the goods and services it imports exceeds the value of the goods and services it exports.
Stockpiles of crude oil maintained by governments to provide emergency supplies in times of severe supply disruptions.