Govt is only taking care of its Party. It does not care about Businessmen, Commonners etc. All they want to do is win elections and rule over majority people who are blindly supporting them and also paying taxes left, right and centre.
The prices of food articles and vegetables have gone sky-high. One of the main reasons for spurt in prices of commodities and vegetables is the unreasonable and unjustifiable levels of prices of petrol and diesel. While the international prices of crude oil do not even justify half the present price of petrol and diesel, the government is not even bothered to reduce the price of fuel. This has fuelled inflation at all levels and across various segments of commodities. If petrol is available in our neighbouring countries at half the price in India, why our government is not passing on the benefit to the common man?
Re: Price rise
by B B Sharma on Sep 15, 2017 10:03 AM
Excise duty on petrol & diesel hiked 9 times in last 14 months. Govt. is immune to any criticism knowing well the opposition is virtually non - existent.
Re: Re: Price rise
by B B Sharma on Sep 15, 2017 10:26 AM
The duty hike resulted in Govt. excise mop - up more than doubling to Rs 2.42 lakh crores in 2016 - 17 from Rs. 99000 crores in 2014 -15.While general public is reeling under mounting price rise, , there is no accountability on Govt. needless splurge on showmanship & vote - winning populist schemes instead of stimulating growth..
Re: Re: Re: Price rise
by piri on Sep 15, 2017 10:29 AM
Even with such high prices, the NPM (net profit margin) of the oil PSUs (IOC, HPCL and BPCL) range from just 4 to 7 %.
While the NPM of Reliance Industries, the biggest private oil marketeer, has crossed 14 % !
This is mainly due to the fact that the oil PSUs have to completely bear the kerosene and LPG subsidy burden while Reliance does not have to.
There is a very strong incentive for the government to keep fuel prices high for two reasons, viz, 1. To mop up as much revenue as possible from the people in order to use a part of it to announce a string of highly populist schemes in the coming election year (ironically, to fool the very same people from whom the government is squeezing out the money) and 2. To facilitate big windfall profits for Reliance Industries so that a part of it can be accepted as donations in lakhs of parcels of less than Rs 20000 each for the BJP to fund its usual very high expense election campaign for the coming assembly elections and the 2019 LS election.
It is all propaganda,nothing has gone cheap.Even life saving medicines have become at least 5to 10percent more expensive. Except for the government servants salaries have mostly remained stagnant in the industry.Economy is grinding to a halt with both industry and individuals avoiding any risk.
