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17th March 2020, 15:59 | #76 | ||
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| Re: Crude oil prices crash, but India refuses to slash fuel prices Quote:
But not sure how much of the city the metro actually covers in these cities. E.g. Mumbai metro (currently functional) covers a small route compared to the planned expansion. This would be off topic so I am stopping here. Quote:
And by this logic would the Government give me a subsidy if say the fuel prices cross 100$/barrel? - Slick. Last edited by Slick : 17th March 2020 at 16:03. | ||
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17th March 2020, 16:05 | #77 | |
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| Re: Crude oil prices crash, but India refuses to slash fuel prices Quote:
Can the govt or govts be challenged in court for fraud. And if they are so challenged in courts, how many courts in the world can afford to censure their govt except as a playful sword waving kind of gesture. What was needed was to create a pricing system which was stable and *consistent* throughout and not an ad hoc system which passes on the pennies and holds back the pounds showing up both the country and the govt in poor light. Such a phata abdul approach shows that the country lacks in basic fiscal discipline and then rot is deep that they have to rely on such sleight of hand fund infusion for day-to-day routine expenses. This when even more broke countries in neighbourhood can pass on benefits of lower prices to their end consumers. Why is India saddled with highest fuel prices in the region. The region being cheek-by-jowl of mideast and transportation expense of petroleum products by sea is minimal as compared to european countries that have to squeeze in through suez and travel through meditteranean and ferry up the atlantic to reach their ports. The ship is sinking. | |
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17th March 2020, 16:13 | #78 | |||
Senior - BHPian | Re: Crude oil prices crash, but India refuses to slash fuel prices Quote:
https://www.businesstoday.in/current...ry/268541.html True, every country has it's own set of problems. But if we compare ourselves to developed countries, we are far behind and it's very discouraging. Considering that our country has such a huge potential. Quote:
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If our tax money was used 100% for infrastructure building only, I am sure 99% of team-bhpians will also gladly support the govt on any kind of tax levied on us. But it's news like this that gets my Goat. Even Central govt has allocated funds for the statue. https://www.businesstoday.in/current...ry/281162.html Also not to forget, this govt has already used up 1.76 lakh crore rupees from RBI, still that was not enough to revive our economy. https://economictimes.indiatimes.com...0.cms?from=mdr What exactly was the benefit of demonetization ? https://economictimes.indiatimes.com...w/65639832.cms https://economictimes.indiatimes.com...9.cms?from=mdr If we compare with Chinese market, they were building infrastructure at break neck speeds, I believe its because of their manufacturing and exporting sector which is very strong. But here ever since demonetization, both these sectors have struggled. It seems this govt has no idea how to generate and properly manage it's funds. But one thing they know very well is tax us heavily for their whims and fancies. It applies to all govts in the past and present since no one is held accountable for wasting our money. Last edited by stanjohn123 : 17th March 2020 at 16:20. Reason: Grammatical mistake | |||
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17th March 2020, 16:16 | #79 |
Senior - BHPian Join Date: Sep 2006 Location: Bangalore
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| Re: Crude oil prices crash, but India refuses to slash fuel prices We have been blessed with good leadership across partylines from 1991. Lets give them a bit of credit - they might not have done the best they could, but many of them did good or atleast okay. We as a nation have grown more than most countries in the world! Another good 10 years and we should be way better than now - I am always bullish! I am no economist and hardly know anything but you will agree if all countrymen pay taxes and increase the tax base (and bring in rich agriculturists also), we will flourish! Last edited by Equus : 17th March 2020 at 16:19. |
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17th March 2020, 16:39 | #80 |
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| Re: Crude oil prices crash, but India refuses to slash fuel prices No car owners can say that the buying of cars has to be stopped and so the fuels has to be priced exorbitantly - because, the passenger car penetration is only around 20% in India and the public transport system is not yet in an acceptable condition. The remaining 80% also have the right to "enjoy" the ownership of a car. What about the leaders before that, who paved the way for the nation? Also, does this include the current crop of party leaders? I was thinking in the same lines of you till some 4-5 years back, but then lost all hopes seeing the "good things", "modernisation", and "demoni(ti)sation". Auto industry and poor peple are struggling a lot and will suffer even more. Compared to 6-7 years back, the central and state govts are making a lot of money selling fuels. Is there any significant change witnessed during these days other than some earful dialogues? Last edited by romeomidhun : 17th March 2020 at 16:54. |
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17th March 2020, 16:57 | #81 | |||||
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| Re: Crude oil prices crash, but India refuses to slash fuel prices Quote:
It absolutely does not work this way. Also however efficiently it manages the economy and finances, fact of the matter is, India's tax to GDP ratio is abysmal. We are at 16% while the rest of even the BRICS are average 25-30%. This includes direct and indirect taxes. This govt has been pushing up the direct tax to GDP ratio slowly and till it reaches more sustainable levels (like in the Nordic states), fuel prices amongst other things should remain high to account for the shortfall. Quote:
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Some numbers, 1) Indian Railways alone has seen on average Rs 130,000 crores in capex every year from 2014 on. https://www.railwaygazette.com/polic.../55715.article 2020 saw it hit Rs 1.61 lakh crores. This will go into funding various suburban railway projects (including the most needed one in Bangalore), dedicated freight corridors (which were stuck for 2.5 decades!), doubling passenger lines, introducing more semi HSR lines amongst other things. Even accounting for delays, by 2030, the face of Indian Railways will be entirely changed. Now should we forego all this investment because 2% of the pop should enjoy lower fuel prices to drive their pricey cars which is equal to 10 years income (a 10l car) for 50% of the pop and more than 5 years income for the remaining 48% (the other 2% being the ones who could possibly thing about affording such a car) 2) Roads see on average 70-75k crores in budget funding, 2020 was at Rs 83,000 crores. All those lovely eways we take our long drives on? yeah, that needs money to build. We could always reduce prices and go back to 2 lane no median highways....I have driven on those and they are NOT fun. Look up India's expressway network and you will see just how pathetic it is for a country of this size and scale. 3) Sanitation - Swachh Bharat has seen more than Rs 45,000 crores collectively thus far and now focus has switched to... 4) Water piping. Do you know 145 MILLION households don't have access to clean, piped water? Let me repeat that 145 million households or roughly 800 million Indians do not have access to clean, piped water! per capita availability of treated / clean water has dropped from 5,000 cu m in 1947 to some 1,200 cu m today! This is an absolute shame. India needs Rs 3,50,000 crores in the next 5 years to give something as basic as piped water to our fellow Indians. Let me ask you and anyone else who is upset with the fuel price rise, when was the last time you or your family actually struggled to get 2 buckets of water for a bath and basic cooking? Let me once again repeat, 800 MN Indians do not have access to water! And we are upset that our tax money is going to fund something as basic as a piped water network? I am not getting into things like power (Nuclear power will be doubled by 2027, construction is underway), river cleaning etc etc, all of which also need lakhs of crores. Quote:
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Besides, this is Rs 3,000 crores over a 4 year period which translates to not even 0.0001% of the federal budget. Why are you making a mountain out of a molehill? Income reality is unfortunately how a capitalistic free market economy is. https://en.wikipedia.org/wiki/List_o...ncome_equality India is still not as bad as most countries in the world, but I don't see this changing, as long as the bottom keeps growing (as it is in India and China), I am happy with that. | |||||
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17th March 2020, 20:32 | #82 | |||||||
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| Re: Crude oil prices crash, but India refuses to slash fuel prices Quote:
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I wonder at what cost. Quote:
If the Government, whom you are passionately defending while insinuating that I am being too selfish, is so concerned about all this we won't be seeing a few cronies benefitting. I won't go any further in this regard for our forum rules. Quote:
If asking questions and complaining about why a promised tax structure, hiked a lot recently, is not being followed equals to being selfish and detrimental to the country (all this inspite of paying all the applicable sorts of cess' and taxes, direct or indirect) then yes, I am doing that. I will stop here. PS - I appreciate your knowledge and it would be great to talk to you in person someday , though I feel you are only factoring in our moral responsibility and not that of the politicians, trusting them blindly. - Slick | |||||||
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17th March 2020, 20:49 | #83 | |
Senior - BHPian | Re: Crude oil prices crash, but India refuses to slash fuel prices Quote:
Last time I checked, it was just 82 crores per year. At that rate it will take 36.5 year's just to recoup this investment. Was it really necessary ? | |
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17th March 2020, 21:08 | #84 |
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| Re: Crude oil prices crash, but India refuses to slash fuel prices I see that there are plenty of people defending the government. In my initial post I requested data on the government expenditure. We have people on this forum that work for the government and deal with them closely enough to know exactly where to get this supposedly public data. The fact that no one here has put up links or charts and tables showing how the government is spending our taxes and the results of such spending in factual terms is telling. I too was a naive youngster who believed in paying my taxes and doing my bit for my country. Over the years, I have changed my views. I now believe that the government is home to a group of scammers who are busy feathering their own nest - this may be a bit extreme, I think. I look forward to being proven wrong and having my faith in the government (and politicians) restored. So all those of you defending the excise hike and the government, please bring out the numbers and charts - I will gladly pay Rs. 100 per liter of petrol and defend the government from every soapbox. Last edited by mvadg : 17th March 2020 at 21:10. |
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17th March 2020, 21:23 | #85 | ||||
Senior - BHPian | Re: Crude oil prices crash, but India refuses to slash fuel prices Quote:
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You'll notice that the UK, where you live (?), has great social security, good roads, law and order, and a high standard of living. Doubtless, the high taxes on cars, goods, fuel all support this. Just as doubtless, you will be surprised to know that our tax payments on these same goods, adjusted for PPP, are far higher in India. Do you think it makes sense for the few of us that do pay income tax, to shoulder a further burden, when we see next to no return? I mean, it is no one's case that civic amenities and socio-public infrastructure is nearly identical in the UK and India. Quote:
While I understand the government's justification to keep prices now and reap whatever they can, given how they're mostly incompetent at running the economy, I empathise with the frustration of the salaried class who actually buys vehicles with taxed income, only to be denuded further. | ||||
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17th March 2020, 21:49 | #86 | |
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| Re: Crude oil prices crash, but India refuses to slash fuel prices Quote:
How are truckers salaries coming into the picture. Oh. Are you saying that because of fuel price increase, they will be paid less? What is your point? Again the army and the military would gladly switch to non polluting vehickes IF they are mainstream anyway. In case you didnt notice my signature. All my vehicles are SOLD as of last year. I commute to office by bicycle. So thanks for your skewed judgement on my display picture. | |
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17th March 2020, 23:34 | #87 | ||||
Senior - BHPian | Re: Crude oil prices crash, but India refuses to slash fuel prices Quote:
We are not 'polluting the hell' out of the planet by driving our commuter cars. Car pollution accounts for a fraction of the pollution emanating from building and construction related dust in both Mumbai and Delhi. This fact has been accepted by administrators and independently verified. Do you see any big protests being taken out against builders or all the infrastructure projects around you? Do you personally make it a point to check the green credentials of a builder from whom you buy or rent? No one does, unless mandated by some ESG norm. I personally have not bought a new car in my life, since I was aware from a while ago that the end-of-life cost of a car often outweighs any age-related pollution issues in terms of carbon emissions. Quote:
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Also, apologies in general for going off-piste. This had turned into a tangential discussion on whether fuel is good or bad, which was not my intention. Last edited by v1p3r : 17th March 2020 at 23:36. | ||||
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18th March 2020, 07:38 | #88 |
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| Re: Crude oil prices crash, but India refuses to slash fuel prices Mod note: All political posts deleted. Please stick to the topic. Thanks! |
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18th March 2020, 08:07 | #89 | |
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| Re: Crude oil prices crash, but India refuses to slash fuel prices Quote:
Fuel is the cash cow for the Government. And the only reason why it was not brought under the GST regime was because it would have to remain fixed (irrespective of percentage, say 100%) and there's no scope for manipulation (excise duty, cess, state tax, etc) for their kitty. For those who forget, excise duty was around Rs. 2 in 2013 and around Rs. 23 today. Crude prices were $105 then and petrol was 71, while crude prices have never reached those highs in the last 6 years. Last edited by discoverwild : 18th March 2020 at 08:13. | |
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18th March 2020, 08:26 | #90 |
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| Re: Crude oil prices crash, but India refuses to slash fuel prices Is it time to add a poll? Crude oil prices crash, but India refuses to slash fuel prices - Your response? 1. OK 2. NOT OK |
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