Coal imports may touch $30 bn/yr, rival bill for crude
The relentless spike in the oil import bill has long been a headache for policymakers for the pressure it exerts on the current account. Now they have a new worry: Over the next five years, the outgo on coal imports could turn out to be an equally significant pressure point. A stern warning from the Planning Commission about the potential of coal imports rising manifold in the 12th Plan period to a level of $30 billion a year coincides with the estimate that the current account deficit (CAD) this fiscal could widen to over 3% of GDP, a level not seen since 1990-91.
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