I do not need to remind you that Indian economy is growing fast and India needs a lot of fuel to sustain its economic growth. India imports most of its fuels and this is not a good news for any economy at this moment as the price of oil is only breaking new records in the international market. Indian government gives some decent amount of subsidy in oil price and that is why, oil price does not increase here as much as the international market.
Now, it seems that Indian government will have to increase the price of oil. This will surely not be greeted well among the people. There is some regional elections this year and next year, India will go to polls for the national parliament. Well, there is hardly anything that Indian government can do at this moment as there is no sign of decrease of price in the International market.
What can Indian government do?
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» Oil Price: What can India Do? from IndianRaj
In my earlier entry, I wrote that Indian government was considering increasing price of fuel for the consumers. This is going to be an unpopular move. Many ordinary people will get badly affected from this. Well, Indian government is... [Read More]
Tracked on: June 16, 2008 6:55 PM | Permalink to Trackback