If India's expanded purchases of Russisn crude at heavily discounted prices led to cheaper fuel for Indian citizens, that could at least be justified as 'enlightened self interest'. BUT, I understand the rise in purchases of Russin crude parallels the export of refined petrol
The biggest Refinery is in '#Jamnagar owned and run by Reliance. Are they the only ones to benefit from India's Russian crude adventure?
Here is my evidence
here is more reporting from England. This is from may 2022, when the link between Indian refiners and petrol/diesel markets in Europe was well known since long. The interesting this is the steep jump in Indian purchases of Russian crude after #UkraineWar
The argument is not India alone is out of line in buying Russian crude to refine and sell on the Europe - at a big mark up of course. Rather it is that Indian imports of Russian crude is defended by the #ModiGovt's Foreign Minister as something India has to do in self interest.
The reality may well be that every corporate player (India's refiners, European oil majors) is making hay while the #UkraineWar provides cover for the high prices we all pay for essential fuel. In India it leads to food price inflation; in Europe to unaffordable heating bills.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
This view is WRONG.
But it is hugely popular among many educated Indians.
We need to combat such simplistic thinking that
a) mixes up cause and effect
b) attacks the socially marginalised groups on the basis of a populist trope.
The fact is:
India is not poor because not enough people pay direct taxes.
Rather
Not many Indians pay direct taxes because India's economy leaves them too poor to come anywhere close to the income threshold at which they are liable for income tax.
Such inversions of cause and effect are not at all unusual in popular thinking. For instance we think that pearls are expensive because men have to dive in deep waters to find them. Think a bit: men risk their lives and dive deep for pearls BECAUSE they fetch a high price.
Earlier in August my top tweet was this:
and the cartoonist Satish Acharya (@satishacharya) was my top follower.
And in September, my top tweet was this:
Anf my top fpollower was Sumanth Raman, (@sumanthraman)
November 2022 saw the 6th anniversary of the Dreadful Distaster that was #DeMonetisation. I wrote this account of the evidence that it was a flawed move from the word go. newslaundry.com/2022/11/08/dem…
So what did I do in the year 2022?
In January, I must have been seriously worked up about the statementss coming from leaders exhorting citizens to fulfil their duties. "Citizens have rights, Governments and institutions have duties, I argued: newslaundry.com/2022/01/24/is-…
earlier that month a 2-word tweet with an embedded link was my top tweet for the month:
Why would a BJP spokesperson come so vociferously to the defence of a particular small pharma company whose product MAY have been contaminated and thus implicated in these deaths in Gambia and Uzbekistan?
One reason COULD be that the company paid for protection. #electoralbonds
Testing fresh samples of cough meds cud be an irrelevance. Just because the samples tested by WHO labs in Gambia showed DEG contamination is not suff reason to expect these latest samples also to test positive.
I have one and only 1 test of the worth and credibility of any economist / adviser who pontificates on India.
"Did you support #Demonetisation or did you call it out for what it was?"
That separates darbari economists who serve themselves from honest advisers who serve India.
The noisy battle of words over VD Savarkar is a distraction to cover up news that the Government does not like - news about the #Notebandi hearing in Supreme Court, #MorbiBridgeCollapse, the popularity of #BharatJodoYatra, the rising popularity for @RahulGandhi.
Indians are fast realising that they have been fooled since 2014, duped by false promises, taken in by massive Govt-organised scams, legislation that enslaves rather then liberates them.
#WhatsApp forwards don't fill empty bellies and stories of past #Vishwaguru glories do not make up for joblessness or loss of earnings. The people are waking up the fact that they have been divided and told to hate each other. #BharatJodoYatra threatens this cosy conspiracy