India's net oil import bill could touch $101-104 billion in FY25 if the current low discounts on purchases of Russian crude persist, ICRA said in its report on India’s oil imports.

• The projected increase from $96.1 billion in FY24 suggests higher expenditure on oil imports, assuming an average crude oil price of $85 a barrel, it said. 
• This could hamper the economy by widening the current account deficit (CAD), potentially leading to higher inflation and fiscal deficits if not managed effectively.
• ICRA forecasts the current account deficit (CAD) will widen to $44-46 billion in FY25 (-1.2% of GDP) from $29-30 billion in FY24 (-0.8% of GDP).