If the prices are rising, why the hell not let it rise? The petroleum ministry has recommended at least Rs. 10 rise in the petrol price. Congress' stand of not letting the price rise, seems is totally unimaginative and only too imaginable, besides of course blatantly ridiculing the classic economic theories of supply-demand equilibrium. They are only making it shamelessly apparent that this is 'khursi' politics, what with elections round the corner! However, the underlying principle of this entire line of argument seems so flawed, that I fail to see how else the Congress is going to make it their vantage point other than retreating to the overtly abused socialist discourse. I call this flawed because of quite a number of reasons.
1. The ruling govt. at the center is currently popularly perceived as an impotent one, which does not have the audacity of taking decisions of any substance. (Read the 123 nuke deal with the US!) Petrol, as a commodity, mainly serves the middle class upwards section. Seriously, does the Govt. think that petrol prices are going to help them garner socialist votes?!
2. And, not acting, yet again, on the upward pressure of fuel prices as a measure to temper inflation is not helping matters either. All of IOC, HPCL, BPCL are bleeding and the deficit funding that is now obligated would do no good.
Read this. This not only makes it bogus, but IMHO, entirely ridiculous! I am no keen follower of politics or the parties thereof, but the continued lethargy of the center is now amusing me. It thus comes as no surprise that the Congress lost out to the BJP which will now rule any constituency in the South for the very first time!
Of course, the way inflation is rising truly sends shudders... but, this is no way to react(?) or is a 'ration' card for petrol next on the agenda?!