I welcome
Prime Minister Narendra Modi’s assurance to improve agriculture productivity
through modern farm techniques and thereby to check price rise. To bring food
prices under control price stabilisation fund, setting up of special courts to
deal with hoarding and black marketing, unbundling of the Food Corporation of
India and establishment of national agriculture market, are good decisions.
However,
unless we abandon Oil & Gas Companies regime in India all the wise
decisions visualized would become futile. The price of oil and inflation are
often seen as being connected in a cause and effect relationship. As oil prices
move up inflation follows in the same direction. That is, if the price of oil
rises, it raises price of essential commodities and thus inflation.
Oil and
gas producers in India are now asking the government to allow the market to set
prices. If permission is given in that direction all efforts of the government to
contain price rise go in vain.
K A
Solaman
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