Diesel is market priced!!!! After years of madness subsidizing the rich, the govt finally got to its senses...and those who said this will lead to high inflation, its actually at a 5 yr low today...Surely, subsidization drove up the fiscal deficit and cost us about 3 yrs of economic downturn and high inflation. The investment sentiment in India took a sound beating. This is surely the best decision for more that 5 yrs.. But what Im surprised is that despite knowing that the prices of commodities especially Gold and Oil are highly inflated and would go down when FED rolled back the money pumped in during the Great Recession, no one had the conviction to take this decision long back. Also while having the wisdom that the future of energy market is shifting towards shale oil, we still dont have a shale gas policy. Still the UPA govt should be given credit. They bit the bullet in a hostile political atmosphere and softened the impact with a 50ps per month hike which made todays decision fairly easy...And I stand vindicated for what I said all these years! #DieselDeregulated
Posted on: Sat, 18 Oct 2014 14:23:22 +0000
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