Opinion | How the country should make the most of a second oil windfall
The Centre should use it judiciously to boost consumer demand and also shore up its tax revenues
The world woke up on Sunday to news of a lockdown in Milan, Italy, and New York declaring a state of emergency. Covid-19 infections in India are slowly on the rise. However, by the time it burns itself out, India may emerge stronger. India’s silver lining came in the form of a failure of the Organization of the Petroleum Exporting Countries (Opec) and Russia to reach an agreement on oil production cuts, possibly signalling the end of a nearly five decade-long intervention by oil producers in the international market.