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India Expects To Save Approximately $ 45 Billion In Oil Imports Throughout The Fiscal Year 2020-21

wallpapers News 2020-03-27
As the epidemic spreads around the world, global oil prices have fallen sharply, and 80% of India's domestic crude oil needs to be imported. In the next fiscal year, India's oil import costs may be saved up to 45 billion US dollars. For every $ 1 drop in crude oil prices, India's oil import bill will fall by $ 1.5 billion. This year's international crude oil price is expected to fall from $ 65 per barrel last year to an average of $ 35 per barrel, a decline of about $ 30 per barrel. India plans to save approximately $ 45 billion in oil imports throughout the fiscal year 2020-21.

It is reported that the epidemic has derailed the global economy and increased the possibility of the global economy falling into recession. India is already facing a slowdown in economic growth. In the third quarter of the 2019-2020 fiscal year, India's GDP growth rate fell to 4.7%. The impact of the epidemic on India's economy may further reduce it in the fourth quarter. Without immediate policy action, India's gross domestic product (GDP) growth rate could fall below 5% by 2020-21. To improve market sentiment, the Indian government may consider eliminating 10% of long-term capital gains tax and fixing dividend distribution tax at 25%.
Among them, spherical roller bearings are a part of petroleum equipment, and rolling bearings have many kinds of structures. However, the basic structure is composed of inner rings, outer rings, a rolling body, and a cage. Rolling bodies (steel balls, or needles) are usually arranged in the bearing for uniform rolling motion between two rings by its enclosure. The shape, size, and quantity of bearings directly affect the bearings' load capacity and performance. For radial bearings, the inner circle usually fits tightly with the shaft and runs together with the shaft. The outer ring usually fits over the bearings housing or hole in the mechanical house to support it. However, in some cases, outer ring is also running, the inner circle is fixed to help or the inner ring, and the outer ring is running at the same time.

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