[atnyia]

I think people are okay with these prices. Government is acting arbitrary but we are not in a true capitalistic economy anyway.
I would feel better if we build up a healthy forex reserves and lower the CAD as much as possible.
There are strong headwinds in global economy and I think we would do better with the added cushion, just in case.
So, no harm if the central government is mopping up more money with it.

[Asifgrkhan]

Originally Posted by 1lokesh

Petrol price cut by 32 paise, diesel by 85 paise a litre with effect from midnight tonight. Source: PTI

Congratulations, for small things in life

Calling such revisions 'SLASHED" is really taking liberties with the English language at best, misleading advertising even. What's worse is that the global oil prices have been slashed over the period of the past 18 months - by about 70% - while our consumer prices have not even moved down 25%.

I think it should be headlined as "minor downward revision of prices - near as makes no difference"

[carboy]

http://profit.ndtv.com/news/economy/...report-1266363

Stop the celebrations. Excise duty has been hiked.

[hondacity]

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[sgiitk]

I saw people on another forum, since they fell states may hike VAT to pay for birthdays, havans, or chadors. They feel the centre may put it to better use.

[carboy]

Originally Posted by sgiitk

They feel the centre may put it to better use.

Why do they feel that?

[sgiitk]

Originally Posted by carboy

Why do they feel that?

Looks like you did not read my post in full. The chap gave some examples, but it is essentially saying use the money for frivolous purposes.

[carboy]

Originally Posted by sgiitk

Looks like you did not read my post in full. The chap gave some examples, but it is essentially saying use the money for frivolous purposes.

And central government doesn't use money for frivolous purposes?

[civic-sense]

Originally Posted by carboy

And central government doesn't use money for frivolous purposes?

How can you call a 3000 cr statue of the greatest man of India frivilous?

[PatchyBoy]

An interesting read and a different perspective. Only hope that whatever this article forecasts for the future holds true.

http://satyavijayi.com/how-goi-is-ta...low-oil-price/

[carboy]

Originally Posted by PatchyBoy

An interesting read and a different perspective. Only hope that whatever this article forecasts for the future holds true.

http://satyavijayi.com/how-goi-is-ta...low-oil-price/

Satyavijayi and Niticentral are basically run by fanboys. They will praise and justify anything done by the Govt.

[deepv]

Originally Posted by carboy

..
Stop the celebrations. Excise duty has been hiked.

A nice article that sums up the this feeling statistically - Lowest Crude Price in 12 Years Means Only One Thing.

[volkman10]

Petrol price in Delhi up by 96 paise a litre, diesel by 53 paise

.http://auto.economictimes.indiatimes...paise/50640091

[naveenroy]

Hahaha, I may be severely OT here but it is hilarious that people who cursed the previous government for the high oil prices (even when prices were high on the world market) are now supporting the high prices now. I mean, is there a logic to this?

[deepv]

Originally Posted by naveenroy

Hahaha, I may be severely OT here but it is hilarious that people who cursed the previous government for the high oil prices (even when prices were high on the world market) are now supporting the high prices now. I mean, is there a logic to this?

Absolutely right .. and a good bunch of that set of people are themselves part of the new government!

I just keep wondering what would have happened to fiscal deficit in these couple of years was it not for oil price fall globally.