Tag: Petrol
THE GREAT DEREGULATION LIE — "MARKET-LINKED" PRICES THAT NEVER GO DOWN
On October 19, 2014, the Narendra Modi government announced with great fanfare that petrol and diesel prices would henceforth be "deregulated" and linked to international market prices. It sounded like a reform. It turned out to be a one-way valve — open to price hikes, permanently sealed against price cuts. The Tax Heist of 2014–2016: The evidence is damning and in the public domain. Between June 2014 and October 2018, the retail selling prices did not adhere to changes in global crude oil prices. The global prices fell sharply between June 2014 and January 2016, and then subsequently
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