NEW DELHI: India's import bill could bloat by $25-50 billion in the current financial year due to spike in crude oil prices, but the government sees no reason for panic saying that macroeconomic fundamentals remain sound. “We reached to the level of $160 billion last year. "....prices might impact (budget) if you adjust the excise duty. "We will watch the situation for some time. If need be we will tweak the composition," he said.

Source: Economic Times May 18, 2018 13:10 UTC