ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Constitution-Chasing Shadows

foreign firms, but of what kind of terms the government is prepared to offer them, Though the Minister did not say anything on this subject, the overall situation as a result of the slow progress of the ONGC's own exploration and production efforts, the rapid growth, of petroleum consumption and the sharp rise in the petroleum import bill threatening almost to cause a foreign exchange crisis is not propitious for a firm stand by the government in negotiations with foreign companies. Earlier this year the government agreed to hand over oil exploration in eastern India to Soviet experts, Consigning the ONGC to a subsidiary role.

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