The government is taking steps to deal with the spiralling crude oil prices in the international market, the sources said.
India meets nearly 85 per cent of its oil demand through imports and a weaker rupee makes imports costlier.
Commodity prices, including of crude oil, are ruling high due to the ongoing Russia-Ukraine war and have led to inflationary pressures across countries, including India.
The government is committed to adhering to the fiscal consolidation path and the Budget this year has pegged the fiscal deficit at 6.4 per cent of the GDP, sources said, adding that steps are being taken to address the situation arising out of rising crude oil prices.
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