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ICSE Class 9 Answered

Why does the import of crude and petroleum have a negative impact on the Indian economy? 
Asked by Topperlearning User | 05 Jun, 2015, 09:46: AM
answered-by-expert Expert Answer

Growing imports of crude and petroleum have lead to a global inflationary situation. An increase in the prices of wide range of goods has increased the wholesale price index in India. Due to dependency on import of energy products, a significant proportion of the export earnings of the country are used up.

Answered by | 05 Jun, 2015, 11:46: AM
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