This is pure nonsense. The price of oil has increase from US $35 to almost us$135 !!!! Any economy will face pressure and economic inflation be cause of this and this has to be an acceptable fact of life . The BJP or any other government cannot solve this crisis. Privitization or anything else is not the solution. The price of oil must come down.
RE:NONSENSE
by Mahadevan Iyer on Jul 23, 2008 11:20 AM Permalink
More importantly, its not the Finance Minister who is getting the money in the form of taxes. It is the Ministry and eventually the money will be used for the country's welfare.
RE:RE:NONSENSE
by rajkiran on Jul 23, 2008 12:11 PM Permalink
Another ridiculous argument.
The key duty of finance minstry is a proper distribution. No one is saying the tax is going to FM's pocket but, the distribution, the incentives, or the valuation of Re. is not proper.
RE:NONSENSE
by sanjoy goswami on Jul 23, 2008 11:27 AM Permalink
its true we should have a oil pricing policy and mre vision instead of running after non issues like nuclear deal Sanjoy
RE:NONSENSE
by Shyam on Jul 23, 2008 11:31 AM Permalink
Can you list some welfare reaching the common man, Mr.Iyer? Don't just support thinking FM is a tamilian and must be supported by all tamils.
RE:NONSENSE
by v vv on Jul 23, 2008 11:39 AM Permalink
If the price of oil comes down, the oil producing countries economyy will go down. When the price was going down, anybody paid reasonable price for oil; when it goes down, you benefit. when it goes up, you compensate for the increase from the benefit you derived in the past. It is the simple economics. The oil price should be at least USD.120/- per barrel, based on the oil price of apprx. USD.20 per barrel 20 years before. Similarly, gold is also selling below the expected price of Rs.1500 per gram for 22 ct. We have to taken into account for these increases constantly and run the Finance Ministry expecting the price increases. If it is increased, we have a cushion. It it goes down, we will have a better cushion. Personally, I budget for an increase of 10% cost of living increase on an annual basis, which has provided me excellent saving year after year as the increase is not to that extent. Always budget for a bigger amount, and you will have a safe sailing.
RE:NONSENSE
by pakaya on Jul 23, 2008 11:27 AM Permalink
This is the fine example why Mr. Naik had lost his seat against film star Govind, People understood that Chikku (Govinda) can better understand situation. If Naik can't see defferences in 35 and 135, a big jolt for BJP.
RE:NONSENSE
by sanjoy goswami on Jul 23, 2008 11:33 AM Permalink
it seems our middle class is earning lots which results in indifference towards price rise but once petrol rationning starts they will understand long ques black marketeering will make them understand its comming soon Sanjoy
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by Observer on Jul 23, 2008 11:46 AM Permalink
Oil prices would be 135 even if NDA was in power now. However, it is the attitude of the govt that matters. While previous NDA govt had managed to handle oil price rise very well and planned for future (global oil price rise was existent during NDA rule also), the present govt is had just taken populist decisions and when the situation is out of control just running away from responsibilities.
RE:NONSENSE
by rajkiran on Jul 23, 2008 12:09 PM Permalink
It is not fair on your part to discard entire article and criticize it.
As you've rightly said, price of oil has gone up from $35 to $135. But, our currency is Rs. Who asked to govt. to tag Re. with $. Look at EU nations and Japan, the inflation is less than 4%.
Govt. should have allowed Re. to appreciate. Export industry was comfortable at 39 exchange rate.
RE:NONSENSE
by Samir Moosa on Jul 23, 2008 11:49 AM Permalink
Exactly. And that is why the Nuclear Deal is important. If the reliance on oil decreases, automatically the demand decreases and consequently prices fall. Reduction in oil prices will immediately correspond to reduction in food and other commodity prices (as freight would reduce). Whatever the PM and FM have thought is truely in the nations's best interests
