Reply To:
Name - Reply Comment
Last Updated : 2023-03-31 15:55:00
It is a sad irony that when international oil prices are on a downward spiral, India has administered its biggest increase ever in the domestic price of petrol. Behind this irony lies a story of gross mismanagement of the oil economy by successive governments. The winds of reform that blew across other infrastructure industries such as telecom, transforming them unrecognisably, have largely been absent in the oil industry. The result is a mess characterised by ballooning subsidies, opaque pricing policies and a government that is guided more by political expediency than economic considerations in managing the industry. The reason why Wednesday’s price increase of Rs.6.28 per litre — net of taxes, translating into hikes as high as Rs.8.36 in some States — turned out to be so big is that the government, which faced State elections, did not allow oil companies to increase prices in the last six months when global oil markets were on the upswing. By the time the oil companies .jpg)
got the nod, their deficits had spiralled so high that shock therapy became inevitable. We might yet see a partial rollback but the question to ask is: would it not have been less painful if prices had been increased gradually over the past few months rather than in a one-shot massive hike? A regular increase in small doses might also not have elicited the kind of opposition the big raise has now engendered.Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
With the increase in egg prices the government decided to import eggs to regu
In order to critically discuss a movement, we must first understand its etymo
Many battles were fought during the long war between the Sri Lankan armed for
When can one say they’ve had enough of being in a state of ‘wokeness’ a
6 hours ago
6 hours ago
3 hours ago - 3 - 423
28 Mar 2023 - 8 - 1021
24 Mar 2023 - 1 - 1404
