India shies from diesel hike, seeks $5b fuel savings
Sep 24 2013 , New Delhi
Moily, who has said he wants to find savings of up to $25 billion on oil bills, outlined measures including public awareness campaigns which he said could help the world's fourth-biggest energy consumer reduce fuel costs.
He said India has a "serious engagement" with sanctions-hit Iran over oil imports. Moily has said he could save $8.5 billion in foreign exchange outflows by raising imports of Iranian crude, which India pays for partly in rupees.