India’s crude oil import bill nearly halved to $64 billion in 2015-16 fiscal as global oil prices slumped to multi-year lows. India imported 202.1 million tonnes of crude oil in the fiscal year that ended March 31, for $64.4 billion, according to latest data available from Petroleum Ministry. This compared to import of 189.4 million tonnes of crude oil for $112.7 bn in the previous 2014-15 fiscal. In rupee term, import of crude oil, which on processing converts into fuel like petrol and diesel, was Rs4,18,931 crore in 2015-16.