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Crisis in Iraq will lead to spike in inflation: Mukesh Ambani


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Inflation
by on Jun 20, 2014 10:11 AM

His appetite for windfall superprofits and influencing unjust pricing is insatiable. He talks of Iraq but what about the indigenous exploration of gas the price of which has been made to fix at $8 much higher than international prices,even the countries like Pakistan, Bangladesh and others which donot buy crude but buy the refined oil have a much lower price than INdia.Then what is the use of home exploration and refinaries. Becauase of this guy the PSUs like ONGC etc. have also become super profit hunters, at this crisis hour when the masses are already reeling under the pain of holes of the unchecked inflation that has burnt into their pocket, this gut talks of further price hikes. if this guy is left unchecked he will by hook or crook try to take advantage of the Iraq situation also. The need of the hour is governmental interference and more taxes on these pple who have amassed huge wealth during UPA regime singing the same tune.

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Vascado
THE REAL DRIVER OF INFLATION IN INDIA
by Vascado on Jun 20, 2014 10:06 AM

It is that 400 million strong middle class combined with another 10 million obscene wealthy class who are fuelling inflation by their unreasonable demand and consumption driven pattern bothering the rest. India is paying the price for rampant consumerism aped from the West and the rest of the population is caught in a time warp. With productivity within the Country not matching demand, the Country is forced to import which also contributes to steep trade imbalances and current account deficit. The fact that India is also a major importer of crude oil and simulataneously fostering automobile revolution also have only worsened the dire situation. In a Country of such humungous population, increasing consumerism is putting major stress on our limited resources and creating massive environmental and ecological imbalance. Today, we have commentators and columnists attributing various reasons for run away and stubborn inflation. But nobody talks about the unreasonable consumerism that is driving inflation in the first place. Due to excesses of these 410 million people of this Country who are ready to pay for anything at any price, the rest are suffering silently. Only a revolution can set things in order.

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