Several ministries may not be able to utilise their full allocation for the year, providing a cushion to the finance ministry to meet the sharply higher requirement for food, fertiliser and petroleum subsidies. The higher-than-budgeted nominal gross domestic product (GDP) growth will also help deficit numbers.
Oil Price Today (July 1): Crude oil above $73 as Iran rejects direct peace talks with US. Where are prices headed?
Brent crude futures were up 50 cents, or 0.69%, at $73.45 a barrel at 1208 GMT. U.S. West Texas Intermediate (WTI) crude rose 63 cents,