My Dear Countrymen, Do you have another 80 paisa

 80 paisa More please 

Indian Geopolitical analysts have a nice term for Chinese Border intrusions,  "A death by thousand cuts" and yet Government of India has the most perfected "Death by thousand cuts" strategy on hiking "Petrol & Diesel price" and in this case, Indians get cut and bleed to death, a financial death of debt and uncertain future. 

Every day, they increase the price of petrol and diesel by 80 paisa, But cumulative price rise has gone over 10 rupees and that's over 10% hike. International readers may be shocked to know even when crude falls in International market even on those days. 

 On one hand, Ministers and Government psychopaths claim "India is buying Russian crude at a discount by paying in Rubles" and on the other they keep raising Petrol prices.  

And No, going green has nothing to do with it as you might remember,  India wishes to be Net Zero emission country in distant 2060.

And in the name of Infrastructure development,  it continues to build more highways and not Railways.  

And even the stupidest Knows,  On highways, Trucks,  Cars and Buses travel and they do run on Petrol and Diesel.

 The Hoax of Free Market Economy And "Oil Marketing Companies(OMC)" sets the retail price:

I think even "Short memory" of Indian citizens can recall, OMCs kept the prices frozen when Elections in most populus state, Uttar Pradesh were on. That period saw huge hikes in Brent Crude prices . 

More importantly, who are these "Oil Marketing Companies"? Barring Ambani's Reliance, rest of all Government owned Companies,  previously Government had full ownership but now they are Majority shareholders.  Government still appoints Members of the Board and they in turn select the chairman. 

Does it make them, a private company worthy of any "Free Market"? NO. 

As for Board of Reliance Industries, well, they select a Petroleum Minister and even the Prime Minister; that's what popular belief is and the governments of present or the recent past gave me no evidence to disbelieve this theory. 

(Just so you understand , this post is not about Sri Lanka or Pakistan or even Singapore)

So, Hello.. Pay Another 80 paisa please.  Show your Dedication to the nation, "Food on your family table" is such a cliche.

 "Make your Leader Fat" is the new thing.

What is so populist about it, Dr. Singh?

Does our beloved Prime Minister Know that the country is touching 1.2 billion in population and the most populist idea is a decent life for all of them?

I heard the answer on the aircraft (through TV). I am shocked and appalled by the PM's ignorance of the letters of the budget. Nowhere (you can download and read it too) in the budget has it been said the oil subsidies would be removed.

The 2 things introduces are:

1. Duty of imported crude (Yes, in-spite of big ticket Private entries in Oil exploration, we still import crude).

2. Excise duty on Petrol and diesel.

None of these taxes would go to Oil subsidy pool. Subsidy remains as it is.

If he is so pro-market forces, why no open the oil market for foreign players as well. He is not pro-market or pro-investment (just pro-buddies).

I am not sure if I have convinced you or not. Lets try a simple illustration: Assume Mr. X is Indian oil company and he imports crude. Since historically (Thanks Mrs. Gandhi) oil companies were for-ex starved and they were nationalized, Govt. of India gave subsidies to allow "fuel for all Indian", they get half the money from the GOI as subsides.

For these transactions, Mr. X has to pay the duty for importing. Imagine, Its like taking a rupee back from a beggar from a sum of 10 rupees.

Now poor Mr. X takes the crude to refinery and makes finished product. Even the production is subsidized and the different products attract different Excise duty. Finally there is a OTC sales tax.

So actually, you would these 2 duties does not reduce the burden the subsidy pool. Let me remind you that Dr. Singh & his buddies don't pay for the subsidy but you and I do (And the debt we leave behind for future generations).

No other country in the developed world has a GDP higher than India; if we can't give subsidies for the poor now, then when?