Petrol prices could have been Rs. 39, today.
The BJP currently claims to have reduced prices from the
sky-high Rs. 73 per liter in July 2014 to Rs. 61 as of January
2015 (Delhi rates). However, they tell one part of the story
which favours them, in a horrific tale of poor planning and
misgovernance.
International crude oil prices, which is something that the
Modi government has no control over, have fallen 46% from
January 2014 to January 2015. In the same time, petrol
prices in India have reduced only 14% whilst even
neighbouring ravaged and war-torn Pakistan has reduced
prices by 29%. Even more shockingly, the Modi government
has increased the excise duty from Rs. 9.5 to almost Rs. \
15.4, a whopping 62.1%. They’re depending on more and
more tax revenue to plug their spending, and not passing on
any benefit in crude oil prices to the middle-class consumer.
The BJP government has no plans outlined to increase
domestic production, tangible steps to increase renewable
energy usage, roadmap to increase PSU efficiency, or even
a will to strongly enforce contracts like the Reliance KG-D6
basin issue.
Is this knee jerk uncontrollable response to global geopolitics
another name of good governance? Is having no long-term
plans to change the energy production and consumption
pattern, something that people voted for?
We’d love to hear your views.
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