New Delhi: Minister of Oil and Natural Gas, M Veerappa Moily, on Tuesday dismissed reports that India may seek loans from International Monetary Fund (IMF) for oil imports. The ministry is confident about the significantly better outlook of India as compared to what it was in mid-2013.
Petroleum Secretary Vivek Rae said that though the situation owing to oil subsidies was a little concerning; however, it is not that bad that like in the past, India will be forced to take loans from IMF.Read more
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