HAZARIBAGH INDIA: Federal finance minister Yashwant Sinha has said that the government may increase the price of petroleum products in view of the gulf war.
Talking to newsmen at Rajrapa near here in Bihar state he said that India would have to spend about Rs 60000 million during the current financial year to import crude oil. The amount would be more than double of what the government had spent last year.
This figure might further go up if the Gulf war prolonged. Since the amount is too heavy the government may increase the price of petroleum products to maintain the economy he said.
Because of the war Sinha said Indian investment of Rs 8000 million in Iraq on various schemes was affected Besides India had to spend Rs 3000 million for bringing home stranded Indian nationals from the gulf countries.
Article extracted from this publication >> February 1, 1991
