Falling crude oil prices
The international prices of oil has fallen very steeply and petrol price in India should have been brought down to Rs.30 a litre. But the anti-poor, pro-rich policy of the western oriented FM is holding back the benefit of price fall from the Indian public. The price differential is being siphoned off through higher excise duty and is being cornered with oil companies for eventual exit through mega scams. The indian people should wait for the mega scams from the oil companies. A white paper should be submitted to the PM directly on the delay in reducing the petrol prices in India. more
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The Government has got a golden opportunity to use these soaked up funds to upgrade the Govt. Oil refineries to produce Euro VI fuel which will reduce pollution drastically. more
Jan 17
If the fuel prices are dropped commensurate with falling oil prices, they will result in huge consumption nullifying the foreign exchange saving advantage again with the collateral damage to the environment. Secondly if the windfall profits are made by the government owned companies, the huge surpluses can be channelized for strengthening our energy resources for future needs which would mean investments in alternate and sustainable energy resources. Also please do not forget, the taxation on oil nets much needed revenue to the government which fact no one can deny. What is important is that the benefit of the cheap oil be passed on to our industry which in turn will help it to face the international competition and increase its market share. The intention of this commentator is not to advocate dear economy policy a much loved policy of Nehru and Indira Gandhi. more
Jan 17
Ram, what you stated is right; however if the Government is using part of the leverage created by reduction of crude by raising excise duty, I feel it is a fair step. The Government has to meet its budgetary expenditure- either by generating revenue without pinching people or by introducing new taxation. If this additional excise helps Government from not imposing fresh new taxes in next budget, people should feel more relieved. more
Jan 16
