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Ya chinmoymukherjee , you are right. We must Thanks Boddunan fro providing a platform and Deivigan, who started this thread.

Usually we used to chit chat with our fiends about any events like Matches on the previous days, but here we made sure that we went one step further to discuss in the right direction and also very useful thing about our country's budget and I can say I learned a lot , because I knew something about fiscal deficit, but this thread and the budget news, made me to knew how it is calculated.

We still need more suggestion and I guess you can start a initiative in this thread. Let us move one step further. Now we will turn our discussion to one at a point, i.e we will Discuss in a detail about each point. Let me start a topic here , and you are really been an inspiration for this.

Question 1:

What do you think about the hike in Petrol Price?

Friends, you can discuss about this topic and one once if you feel we got a good discussion, you can start the next question. I guess you know when to start the next question on budget( Let all give their opinion) and if the discussion is too hot we can continue this for more time. All the best and thanks chinmoymukherjee for this motivation.

[quote]Suggestion: Friends, when you reply ( either Quick reply or Reply topic), please ensure that you copy the question in the Subject ( i.e as soon as you click reply, you will have a rectangular box which says "Re:Union Budget 2010" and you can can replace it with the topic we are discussing at that time. ( Example in this case we can use, What do you think about the hike in Petrol Price?") Hope you understand.[/quote]

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Thanks Raghaav! It is an example how one can help in drawing the best out of one's imagination. You have done a fantastic job by bringing up this topic which concerns every body.There are certain misconception about the mechanism of pricing of petroleum products.I would add my inputs in a graduated manner as I have to leave now.Thanks once again!
Thanks chinmoymukherjee.

My views about the question: What do you think about the hike in Petrol Price?

1) First and foremost, the opposition shouldn't have left the parliament, and I guess this is not the right manner for this matured politicians.

2) Of course, the hike in price will have an impact and effect in almost every aspects.Let me consider the following example,

i) An increase in oil price, means more money to spend for the transportation, i.e lorries carrying the goods, needs to spend more.

ii) This will have an impact in the increase of price in day to day goods.

iii) Practically speaking we can't accept the fact that petrol price should be constant.

So the best way and a long term plan would be investing money in finding the alternate source, like solar , electricity, gas vehicles and also encourage the companies who invest money for manufacturing these vehicles.

Friends, you can also share your views.

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Raaghavan Krishnamurthy- You are right to comment that this is rich man's budget. The raise in indirect tax affects all- the poor more as most of their income is for spending on necessaries. The tax rate reduction on income tax favors the rich at expense of poor.

G. K. Ajmani Tax consultant
http://gkajmani-mystraythoughts.blogspot.com/

Hi gulshan kumar ajmani ,

What about the fuel price hike? Is there any solution for this? Do you feel that Government has no other go and so they made this decision?

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@Raghav

Before discussing the most painful and hurtful decision of the government to hike the fuel prices, let us face the harsh truth that the show of dissent by the leaders of the opposition on the floor of Parliament by an unprecedented walk-out on the budget is not based on conviction and their commitment to their cause is skin deep. I am citing an example, the left front government of West Bengal which is a vocal critic of this move actually earns from this enhanced prices of fuel from VAT. If these parties and their leaders are at all sincere they won't have enacted a drama on this issue.Why don't we examine the past records of the governments formed by the opposition and their stand on this issue?
Ya, they want to do something different and chose this unprecedented walk-out. They must know the fact that people are not fools, they knew when and where the actual political game is played.

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Now coming to crux of the matter, the simple truth is there are no free lunches! When the international prices were zooming up for the crude oils the government through the adminstered price mechanism succeeded in keeping an atrificial price level for petroleum products. And the gap between true international price and the artificial domestic price is a substantial one and oil marketing companies like IOL,HPL all are being forced to import crude at the international prices and to sell them at the administered prices, the resultant gap is termed as under-recoveries. Now the amount of under-recoveries has reached such a point that these oil marketing companies are starved of cash and may be forced to stop further import and thereby can aggravate the supply side.
Hi chinmoymukherjee , do you think that Government must invest fund in finding and researching for alternate source, like making the best use of Solar, electric sources for transportation. India is never short of talents and I am sure many researchers will be working and any Government funds and encouragement will definitely guide them to produce a positive result.

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Hi Raghav!

There are several initiatives both at the government as well as private levels to tap unconventional renewable sources of energy in the transport sector. But the biggest hurdle has been the prohitive cost.The technologies are at varying stages of development.Tapping wind and solar power provides viable long-term alternatives. And big volumes in the use of solar products are likely to bring the costs down. Solar-powered aircraft may be a reality very soon.There are several big private companies like Suzlon,NEPC and PSUs like BEL,BHEL,NTPC which are into this space.The government is trying to promote foreign direct investment by liberalizing the norms in this regard. India is entering into pacts with several countries like Japan,UK,Scotland etc. In this year's budget too the Finance Minister has offered concessional Customs Duty and the proposal for eastablishment of Clean Energy Fund which is likely to the much-needed thrust in research activities.
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