|
|
 |
|
|
India's petrol hike: gas goes up, and a city melts down by ferujkll sdff
|
|
|
India's petrol hike: gas goes up, and a city melts down |
|
|
|
|
|
Business,Business News,Business Opportunities
|
|
Traffic in Delhi is bad at the best of times. During a run on fuel,it devolves into an unholy mess. On Wednesday evening, the widearteries of India s capital became a gnarled tangle of SUVs, Ambassadors,motorcycles and shuddering auto-rickshaws, as people from allcorners of the city were stuck together in a 100 gridlock,honking their horns in desperate futility. The problem? The steepest fuel hike in a decade went into effect atmidnight on Thursday, sending thousands of cars scrambling to gasstations to fill their tanks for one last cheap guzzle. Police werecalled in as station owners claimed their tanks were empty until1AM or so.
The state-run oil companies price increase of Rs. 7.54 to Rs. 73.18 per liter ofpetrol in Delhi (it varied slightly from state to state) came oneday after the governing UPA coalition celebrated its anniversary,generating snarky comments about the UPA s gifts to the commonman as it marked its third year in office this term, and eighthyear in power. ( MORE: How High Will Global Oil Prices Rise? ) The raise in petrol kerosene, diesel and cooking gas areunaffected, for now also came the day after Parliamentadjourned, leading many, including UPA allies, to accuse thegovernment of sneaking an unpopular decision through withoutconsulting anyone. The government responded by saying that gasoline , which was officially decontrolled in June 2010, is a deregulatedcommodity, and this was a market-driven move.
Opposition members,however, demanded the hike s immediate reversal, with BJPspokesman Prakash Javadekar warning of a strong democraticagitation. A partial rollback of the price hike would only further chip awayat faith in a government that critics already accuse of being in astate of paralysis, and which has withdrawn policies afterannouncing them before. On the other hand, as is, the measure isbound to be wildly unpopular with middle class voters, who aredisgruntled over rising inflation and corruption. In a pollreleased earlier this week, 66% of respondents across eight citiessaid they were unsatisfied with the work of the ruling coalition.
State oil companies have been clamoring for the greenlight to raisegas prices for months now as they've been incurring lossesdue to rising global oil prices and the depreciating rupee, whichfell for the sixth straight day to all-time-low against the dollaron Wednesday. By going ahead with the hike now, the government maybe banking that any popular upset will die down before the nextstate polls, which are still several months away. Or its leadersmay be hoping that the broader impact of the hike will ultimatelydo more good than harm, by offsetting concerns over India s yawingfiscal deficit and increasing confidence in the economy to arrestthe currency s slide. While the political and economic implications play out, a fewthings are certain: Consumers across India are going to have reacha little deeper into their pockets to fill up their tanks now. Andif the price of gas goes up again this summer, it is highlyadvisable to stay home.
If you must hit the road, make sure yourvehicle has air-con and a loud horn. LIST: 5 Ways to Score Cheaper Gas. I am Luggage, Bags & Cases writer, reports some information about headphone extension cord , solar panel rv.
Related Articles -
headphone extension cord, solar panel rv,
|
Rate This Article  |
|
|
|
|
|
Do you Agree or Disagree? Have a Comment? POST IT!
| Reader Opinions |
|
|
|
|
|
|
|
|
|
| Author Login |
|
|
 |
Advertiser Login
ADVERTISE HERE NOW!
Limited Time $60 Offer!
90 Days-1.5 Million Views
|
|
ALEX BELSEY
I am the editor of QUAY Magazine, a B2B publication based in the South West of the UK. I am also the...more
|
|
|
|
|
LAURA JEEVES
At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
|
|
|
|
|
STEPHEN BYE
Stephen Bye is a fiction writer. His most recent novels are a 5-book “The Developer” series which be...more
|
|
|
|
|
LEVAL AINAH
I am an internet marketer and also an educator. My goal is to help others who are looking to improve...more
|
|
|
|
|
TIM FAY
After 60-plus years of living, I am just trying to pass down some of the information that I have lea...more
|
|
|
|
|
GENE MYERS
Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
|
|
|
|
|
ADRIAN JOELE
I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
|
|
|
|
|
MICHAEL BRESCIANI
Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more
|
|
|
|
|
PAUL PHILIPS
For more articles, blog messages & videos and a free e-book download go to www.NewParadigm.ws your p...more
|
|
|
|
