A short thread on Crude again. Aside from the jokes about filling your tanks now (really solves nothing), the problem with crude is not that retail prices will rise at $115. That is happening worldwide. 1/n
#Crude #PriceHike #inflation
#Crude #PriceHike #inflation
The problem is that
1. Election tactics will squeeze a very large increase into a very short window causing stress to people
2. What have we done with policy? Last time crude was $100, then RBI head Raghuram Rajan suggested deregulating diesel - nothing done . 2/n
#Crude
1. Election tactics will squeeze a very large increase into a very short window causing stress to people
2. What have we done with policy? Last time crude was $100, then RBI head Raghuram Rajan suggested deregulating diesel - nothing done . 2/n
#Crude
3. Despite all our chest thumping, domestic oil production has been DECLINING.India’s crude oil production fell by 5.2 % and natural gas production by 8.1 % in FY21 . Ageing wells, not enough tech upgrade, no change in policies like cess.
#Crude #PriceHike #inflation
#Crude #PriceHike #inflation
4. Even something basic like bringing ATF under GST has been discussed till the cows come home, with no outcome. #Crude #PriceHike #inflation
5. Fix your roof when the sun shines, not when it's pouring down. Hitting people with large price hikes, tweaking excise duties are not long term solutions. Truth is, India squandered the last few years & the opportunity low crude rates gave us/end of thread
#Crude #PriceHike
#Crude #PriceHike
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