As if the
economic burden that the average Indian faces everyday wasn’t enough, petrol
prices have been hiked – yet again.
According to the
statistics, the government has hiked the petrol price by 3 times in the past 15
years. – and it’s still increasing. You might think that petroleum prices will
affect only the transportation section of your budget.
Well, just a
kind reminder that petroleum and its product are a fuel to almost every
Industry and even a tiny streak of hike in its price will hamper you from all
sides. Here are some of the common impact of the petrol price hike that you
need to be prepared for.
Major Industrial Sectors
transportation cost, increase in transportation cost will increase in price of
goods, and this increase in price of goods would gradually force the people to
loosen their pockets even more, and like this, the avalanche effect will take
directly or indirectly affects all the major sectors like transportation,
textiles, auto, FMCG– because we need fuel for manufacturing &
transportation! This affects the prices of daily essential commodities which
are transported on a daily basis.
is also expected to suffer due to high inflation level.
Food prices will
face a severe hike. In both the manufacturing and the processing or cooking of
the food, we need fuel, and price hike in the LPG costs doesn’t look inviting
impact of petrol prices is almost minimal on the inflation rate, it has to be
noted that other products like Diesel do have a significantly higher rate at
when it comes to the inflation rate.
A hike in the
petrol prices is a code. Only smart people know that when decoded, it means
that the government is taking, not so smart decisions. It also means that the
Government is trying to sort things out, and it will be a while since your
investments are back in the glamorous numbers that you want them to be.
The hike in
petrol prices is going to have a severe impact on all walks of our life – a
kind of a chain reaction.
Debating why the
petrol prices aren’t controllable in our country, despite being the fourth
largest consumer of Petroleum Products, probably wouldn’t lead us to real
solutions, but rather, reminding ourselves that non-renewable energy resources
are something that we don’t inherit from our fathers, but a loan we get from our
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IMPACT OF SERVICE TAX HIKE TO 15%, ON YOUR DAILY LIFE
WRITTEN BY: BALAKARTHIGA. M