Directions: ​Read the following passage and answer the questions given below. Some words may be highlighted. Read carefully.

Indian economy is directly related to the volatile price of oil. At an international meeting of ministers a few weeks ago, the Prime Minister urged the ministers to reduce the cost of energy to help the global economy recover. The minister also called for a review of payment terms, advising the partial use of the rupee instead of the U.S. dollar to pay for oil, in order to lessen the burden on oil-importing countries in the wake of the strengthening of the dollar and to avoid fluctuations. With the majority of its oil demand being met through imports, India clearly has a lot at stake as oil prices have risen considerably in rupee terms in the last few years. Speaking at the same event, one of the foreign ministers refused to openly commit to lower oil prices. He instead said that the price of oil could have been much higher but for the efforts taken by his country to boost supply. This is not surprising given the absence of significant rival suppliers in the global oil market willing to help out India. One more suggested solution to the oil problem is to utilize the domestic sources of energy supply and encourage consumers to switch to green alternatives. This should be backed by a stronger policy framework and implementation. The government should try to diversify its international supplier base to manage sudden surprises better. The government should also not ignore the risks associated with this. It will take quite a long to free the economy off oil imports. Hence, the government should think beyond the next election to end the country’s excessive reliance on oil for its development.