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

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One Year of Litigation

assumptions about the impact of the Gulf crisis, an estimate for 1990-91 is given in the Table. Two scenarios have been presented, the one assumes an oil import of 26.6 million tonnes (19.5 million tonnes of crude oil and 7.1 million tonnes of products) about the same as in 1989-90 and the second scenario assumes a slightly higher import of 29.6 million tonnes (22.5 million tonnes of crude oil and 7.1 million tonnes of products). The first scenario assumes the average crude oil price for the period August 1990-March 1991 at S32 a barrel and the second scenario has been calculated at a price of $32 a barrel. In both the scenarios, account has been taken of a reduction in imports of Rs 2,500 crore planned by the government, but assumes a 12 per cent increase in non-oil import prices.

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