India is the biggest loser from the oil crash.
The government has said it will raise its oil and gas tax to raise $1.6 billion to help pay for the clean-up.
The oil price crash will make the Indian economy weaker than before, analysts have warned.
India has said the fuelcell electric car (FEV) market is going to be a very difficult one, but it has a lot of time before the oil crisis comes to an end.
The Narendra Modi government has promised to make India the most energy-efficient economy in the world, to help it meet its energy demands.
The Indian government has a plan to electrify every house by 2020.
The country is expected to generate almost 7% of its energy from renewable sources in 2020, with coal-based power plants expected to make up a third of the power.
As a country that relies on oil, the government has put a lot on renewable energy and plans to spend billions of rupees ($2.5 billion) to make its electricity system energy-independent.
But India’s economic slowdown and a steep decline in oil prices are putting a lot more pressure on the country.
The government has been trying to stimulate its economy and bring in more foreign direct investment, but the impact on the Indian rupee is difficult to forecast.
India has lost about 15% of the value of its currency in the last 12 months, a loss that has put it at a competitive disadvantage in world markets.
The rupee has lost around 7% against the dollar and is expected at a 20-year low of 70 to the dollar, the Bank of England said on Wednesday.
The rupee rose 1.7% against a basket of currencies in Asia-Pacific on Wednesday after the Bank predicted an uptick in the dollar’s gains against other major currencies.
The dollar has fallen to a record low against a benchmark Asian currency this year.
On Monday, the Reserve Bank of India, which sets monetary policy, raised its benchmark interest rate to 6.5% for the first time in seven years.
That would put the central bank at the height of its policy easing in the next three years.