India's crude oil import bill is expected to grow 9 per cent to Rs 82,240 crore (Rs 822.40 billion) during the current year, compared with Rs 76,195 crore (Rs 761.95 billion) during the last fiscal.

Petroleum product imports are slated to move up 2 per cent to Rs 9,033 crore (Rs 90.33 billion) in 2003-04 from Rs 8,847 crore (Rs 88.47 billion) in the previous year.

However, with the increase in the refining capacity in the country and a mere 2.4 per cent growth in the domestic consumption of petroleum products, the export of such products is expected to grow a staggering 42 per cent to Rs 15,436 crore (Rs 154.36 billion) this year, against Rs 10,868 crore (Rs 108.68 billion) last year.

According to the latest figures available with the petroleum ministry, in the first 11 months (April 2003-February 2004) of the current fiscal, crude oil imports went up 9.8 per cent in terms of volume from 74.94 million tonnes to 82.29 million tonnes.

Product imports went down 0.7 per cent from 6.76 million tonnes to 6.72 million tonnes, while product exports jumped 39.9 per cent from 9.02 million tonnes to 12.53 million tonnes.

Diesel consumption in the country, an indicator of economic activity, which was in the negative territory during the first ten months of the current fiscal, notched an impressive 10.4 per cent growth in February to register a 0.6 per cent growth during the first 11 months of 2003-04, against the corresponding period of the previous year.

Officials attributed the jump in diesel consumption to the government's ban on the import of kerosene, most of which was being used for the adulteration of transport fuel.

India consumed 33.75 million tonnes of diesel in April 2003-February 2004, against 33.56 million tonnes in the corresponding period of the previous year.

On the other hand, kerosene demand slipped 1.7 per cent in the first 11 months of the current financial year to 9.4 million tonnes from 9.56 million tonnes last year because of the increased supply of LPG for cooking purposes and a corresponding cut in kerosene allocation to states.

LPG consumption jumped 11.2 per cent in April-February 2004 to 8.47 million tonnes, opposed to 7.62 million tonnes in the corresponding period of the previous year. Petrol consumption registered a 3.9 per cent growth to 7.2 million tonnes, against 6.93 million tonnes in the corresponding period of the previous year.

In February, petroleum product sales rose 8.6 per cent to 7.86 million tonnes, mainly due to the increased consumption of diesel.

India consumed 2.83 million tonnes of diesel and 7.24 million tonnes of petroleum products in February 2003. Diesel demand has been in the positive territory ever since the ban on import of kerosene by private firms was imposed in November last year.

On the other hand, kerosene demand slipped 3.5 per cent to 779,400 tonnes in February, compared with 808,000 tonnes consumed in the same month last year.

LPG consumption jumped 10.8 per cent to 814,300 tonnes and petrol consumption rose 7.3 per cent to 647,300 tonnes in February.