The Modi government has, by allowing petrol and diesel prices to rise this week, has indicated that it intends to let prices be determined by market conditions. It needs to distance itself further from these decisions.
It makes no sense to sell ONGC shares when oil subsidy and pricing policies are in a flux and non-transparent. Selling now means lower price realisation for government
The UPA government has expanded the share of subsidies that the oil and gas producers have to pay in 2013-14 so that it can show a lower fiscal deficit. This is nothing but accounting sacrilege.
If you add the oil subsidies given out by ONGC, Gail and Oil India, the real fiscal deficit will be closer to 5.7 percent despite the FM's best efforts
The government today justified its proposal for additional oil subsidy of Rs 28,500 crore, saying it was being done in view of "difficult situation" as members in the Lok Sabha attacked the move.
Vijay Kelkar is appalled to see the huge gap between budget numbers and reality. The truth is both Chidambaram and Pranab have been pulling numbers out of a hat
Too many ordinary changes are being dubbed as big ticket economic reforms by the pink business newspapers while what is needed is not being addressed.
In 2011-12, the government did not pay net subsidies of even one paisa to the oil companies. It paid less as subsidies than it collected as taxes.
Despite the diesel price hike, the subsidy burden in the budget is not going to come under control. Without further steps, there is no fiscal nirvana
A month after Chidambaram took over as FM, the government's finance continue to slide.
The FM should address the long-term issues on fiscal consolidation rather than just focus on short-term market-friendly moves. Or else there will be hell to pay
ONGC is beginning to fret about the permanent subsidies it is forced to bear due to the UPA's myopic oil pricing policies
Both the government and the oil companies are presenting accounts that bear little resemblance to reality.
The former FM has cleaned out the coffers before he left for Rashtrapati Bhavan. Manmohan will have to scrounge for the money.
Manmohan Singh sets the tone right for reforms, but markets today have Europe on their minds.
With Pranab Mukherjee gone and the PM taking over the finance ministry for a while, one should expect a diesel price hike this week
It's a myth that subsidies shield the poor and that any reform of the subsidy regime works against the interest of the indefinable 'aam aadmi'.
If the UPA government did nothing more than deregulate oil prices, even in stages, it can rescue the economy
In the eight years upto December 2011, ONGC has shelled out Rs 1,52,000 crore in subsidies - that's a Rs 1,250 paid for each Indian resident.