Economy · 22 Jul 2026

PPAC crude oil import bill

Which one of the following correctly identifies the body and the data it released regarding India's crude oil imports in Q1 FY27 (April-June 2026)?

AThe Petroleum Planning and Analysis Cell (PPAC) reported a 61.2% year-on-year rise in India's crude oil import bill despite a 4.5% fall in import volumes
BThe Reserve Bank of India reported a 61.2% year-on-year fall in India's crude oil import bill due to a rise in import volumes
CThe Directorate General of Commercial Intelligence and Statistics reported a decline in India's oil import dependence to below 80%
DThe Petroleum Planning and Analysis Cell (PPAC) reported that India's crude oil import bill remained flat despite a sharp rise in landed crude prices

Tests precise attribution of data to the correct releasing body alongside correct interpretation of a price-volume divergence, guarding against superficial headline-level recall of the story.

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This question is based on: Hormuz Crisis: What a 61% Crude Import Bill Surge Reveals About India's Energy Exposure
Take this in full test mode → Instructions for 22 Jul 2026
About this question

Why in news

PPAC's provisional data released on July 20, 2026 showed India's crude import bill surging 61.2% year-on-year despite falling volumes, driven by Strait of Hormuz supply tightness amid the West Asia crisis.

Why for UPSC

UPSC prelims often tests whether aspirants can correctly attribute economic data to its releasing body while also verifying the direction and magnitude of change - a common examiner technique to catch superficial reading.

Prelims summary

PPAC reported India's crude import bill rose 61.2% to $49.8 billion in Q1 FY27 despite a 4.5% fall in volumes, driven by a price surge linked to Strait of Hormuz supply tightness; India's oil import dependence stands at 89.1%.

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