A sea of yellow over Anand Rao Circle in Bangalore, as autorickshaw drivers and owners take out a procession towards Freedom Park, demanding a reduction in the price of gas cylinders that they use.
Photograph: Karnataka Photo News
- Comment
- Reblog
-
Subscribe
Subscribed
Already have a WordPress.com account? Log in now.
churumuri 
Oi price/ and gas price would come down from the present day 108-112 per barrel to say 85-90 per barrel by the time India goes to vote. (more Iran and Australian gas is coming to the market). I would imagine that, LPG cylinder price would come down by 200 rupees (from 1300 to 1100 before subsidy, 450 to 350 after subsidy?) and Petrol and diesel price also would come down by 15 rupees or ten rupees. Current account deficit is falling as Gold import is falling (as the Gold is losing its attraction as alternative investment). When C/A export import difference comes down, Rupee may strengthen slightly. (But Dollar also would strengthen?). That means, inflation will come down. When India goes to vote, there wont be price hike in cities and rural India would be happy because of good rain and good harvest. Urban women would get 12 cylinders per year till election is over. Rural poor would get huge cash payment, which they had never witnessed in their life. Till the election is over, no one is going to realize the danger of this trap.
All these protestors would forget the anger and would vote to Mukesh Ambani.
Who would try to protect the national resources? When the production cost of Natural gas is less than 4 Dollars per mbtu, why should I pay 13 Dollars per million british thermal unit?
Let me watch some old Naxalite movies and take a siesta. It would be a refreshing evening after that. My “public memory” is too short that, later, I can enjoy the chirping birds nestling in the bushes in the distance… There would be lovely breezes… Lovely life !! Thanks Ambani God !
LikeLike
Whatever the issue, Indians always vote by caste.
BJP Govt. in KA fared miserably yet most Brahmin dominated inner Bangalore constituencies returned BJP candidates. Congress is right now focusing only on Muslims, Dalits and OBC/BC and reap dividends in the LS election.
If I show undue favour to a fellow caste-men then it’s secularism because they were deserving. When another person does the same thing, it’s casteism because the beneficiary wasn’t deserving.
Among my friends, acquaintances and colleagues, I can recollect less than a dozen who are genuinely secular.
LikeLike
Rain or not rain, there would be tsunami in India.
It was only yesterday, that I said the rupee may strengthen. But the news that is coming today indicates just opposite possibility.
Below given is a correction of what I posted here earlier:
(I am sorry, many would feel, I am just repeating what every one knows. But I am pointing out a vicious circle)
Stock markets tanked once again today, on 27th January 2014.
The reason?
The USA is going to stop easy money policy. (along with China and US problems) In order to ensure, more liquidity (flood of cash) in the system, US Federal Reserve (Bank) was printing notes and pumping into the system. Now they have decided to stop on a step by step basis. When USA was printing more currency and circulating in the country, to encourage citizens to purchase more and thus boost demand in the market, that was weakening USA Dollar. But when USA stops this policy, USA dollars would strengthen naturally.
A few years back 1 US Dollar was approx 43 rupees. Now one USA Dollar is approx. 63 Rupees.
When India imported more Gold to India, there was a huge deficit in India’s Current account. As a result of that, India’s rupee depreciated.
In short, earlier both USA Dollar and indian Rupee was depreciating.
When USA economy started showing early signs of recovery, Gold lost its status as the best investment commodity. And as a result of this, Gold import to India came down slightly. When Gold import came down, India’s currency started showing signs of recovery.
The main reason why Cooking gas and Petroleum prices increased in the last months of 2013 is not because the oi price was going up in International market. Oil price was falling in International market, but at the same time oil price/LPG-LNG price in India was shooting up. This was mainly because when we buy one barrel (160 liters approx) of crude oil, we were giving more or less same price in Dollars earlier, now the over all cost that we pay in Rupees is significantly high. Earlier, when we paid US dollar 110 we were actually paying 110 X 43 = 4730 Rupees. But now when the 1 Dollar conversion rate is 63 this means — 110 X 63 = 6930 Rupees. In short, even while the international crude oil price doesnt increase, India is spending 2200 Rupees extra per barrel. That means 13.75 Rupees extra for every litre. (Total Rupees 37 for one liter of crude oil import price. Refining cost etc would be plus).
My expectation was, both international price (by 15 Dollars) and conversion rate would fall down in the near future. Now, it appears that Crude oil price would come down but conversion rate would go up. That means, either the petrol price would go up, or it would remain more or less same. If today’s trend is any indication, petrol/LPG price would only go up.
I am embarrassed to post quite contradictory statements within 24 hours. But this is the state of affairs now.
When C/a deficit was high, currency depreciated. That time Dollar also was weak.
When India reduce Gold import, c/a deficit falls, but currency depreciate for an entirely different reason.
It seems, India will never overcome its problems. During summer, a volcano erupts in global waters, and there would be tsunami in Indian ocean. During Monsoon, there would be himalayan tsunami.
LikeLike
Bangalore Autowallahs wants to increase the fares (citing increase in price), but at the same time wants the price (of petrol/diesel/lpg) to be reduced.
LikeLike