Oil price hike may inflate import bill by up to $50 bn: Govt
Rising crude oil prices may inflate India's import bill in the range of $25-50 billion in 2018-19, Economic Affairs Secretary SC Garg has said. "There is no necessary linkage between oil prices and level of growth. We'll see strong growth despite elevated oil prices," he added. Brent crude oil prices hit a 3.5-year high of $80 per barrel on Thursday.