are dumb enough to believe that entire inflation is caused by government mismanagement. What they feel to see is that crude OIL has gone up by 150 percent in 1 year and commodity prices have gone up by 200 percent. And the subsidy bill given to oil is plaving havoc with the deficit. 5% of our entire GDP goes towards payment of crude OIL and this is because our government subsidizes and is paying the remaning money from our income tax and other revenues.
RE:People criticizing nuclear deal
by Girish Rao on Jul 23, 2008 09:52 PM Permalink
this deficit is devaluing our rupee which then pushes up inflation as we have to shell out more rupees for the same barrel of OIL.
RE:People criticizing nuclear deal
by Girish Rao on Jul 23, 2008 09:53 PM Permalink
It is imperative in such a scenario to diversify our energy fuels and include not just nuclear but also wind, solar, bio-fuel etc. Without adequate Energy there is no growth and without growth no poverty-reduction.
