OIL ON THE BOIL.

Fuel prices continue to soar. 

In the past two months India has witnessed a rapid increase in the rate of petrol and diesel prices. In the first week of September, 2018, petrol price were hiked by 39 paise per litre and diesel by 44 paise per litre pushing the costs to the highest Delhi has ever witnessed. 
The first Monday of October, 2018, the petrol prices in Mumbai crossed the Rs. 91 mark!!


Opposition parties in the country announced nationwide strikes and protests claiming the record high fuel prices are a result of high taxes. 
Former Finance Minister, P. Chidambaram had stated that the "Relentless rise in prices of petrol & diesel is not inevitable. Because the price is built up by excessive taxes on petrol &
diesel. If taxes are cut, prices will decline significantly."

THE IMPACT ON COMMON PEOPLE.

With the daily revision in prices we might not always notice that our monthly fuel outgo is on the rise. But over time, this will definitely dent our budget by not only increasing our outgo for fuel but also essential commodities and other goods.

Fuel bills are an unavoidable cost now. For e.g. if a person takes their own transportation to work everyday and their monthly transport expenses increase by let's say Rs. 2000-3000 that does not mean that they will switch to public transport, rather they would have to start cost cutting on simple leisures like taking their cars out on the weekend.

A time will come when a person would have to work harder to fulfil their car's appetite rather than their children's.

I would like to back up my previous sentence with some theory and fact to prove a point that my view expressed also has some practicality. Reason being, record high prices for crude oil means that the cost of transporting goods will also go up across the country. In turn, prices of essential commodities like fruits, vegetables, rice, pulses as well as other goods will also increase. 

Amidst all the chaos, sits a man on the most important chair of our country who seems least interested in what the common working class heroes of INDIA are facing on a day to day basis.


- Prime Minister, Narendra Modi.

Hence, I would like to conclude by saying that it's high time that our government starts working on a 'balanced economic development'. Emphasising on the act of BALANCE, which basically means, to create an economical environment where all classes of the society should experience monetary growth as a collective and not just letting the rich get RICHER and the poorer getting POORER everyday.



-Spandan Sen.

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