Petrol price hike ?
I believe if rumours are to be believed Rs 6.25 upto Rs 7.00 per litre petrol price hike will be effected from midnight today. So if one fills up tonight they will end up saving the same. RBI has been totally ineffective in curbing the menace of depreciating rupee, which is easy. They have to take a decision to hike interest rate of FCNR dollar deposits from 4 to 6% so that dollars will flood into the country. If one strengthens the rupee, obviously we would not have to pay increased price of petrol.
There is bound to be agitation and partial roll back i believe. But announcing the hike at around 6 pm most bunks shut shop to make a killing today.
only motto, badhe chalo, badhe chalo, asmaan choone ko taiyaar hain hum, badhe chalo. naam humaaraa petrol,
I am sure Petrol price will cross 100 within a few months
Maybe that'll motivate us to start using poolcars to office, or take the bus sometimes - for all those who love to drive in their own car.
That'll help the environment i guess and will also be gentle on the pockets.
This is not a feasible solution for professionals like us. We tried it several times. While the time of going to office is same, we could never match the returning time
Xeno, as I pointed out earlier, barring few cities, public transportation is in a very bad shape in India and Pune is one of those unfortunate cities where you cant have a good public transportation. I would have been the first person to say that had it been possible here.
I second Xeno. might be a boon afterall.. but yaar... maine naya naaya petrol car kharida .. ab soch raha hoon ki diesel hi kharid lete... :-(
Even i regret buying a petrol car, it will fetch no re sale value with such increases
I remember there was a sudden jump in diesel car market and then government was trying to hike diesel prices also.
I wonder if companies will give something called "Fuel allowance" to their select employees of relevant importance in particular dept.
Companies are already giving allowances, but they might suggest employees to go for diesel cars, but bikes cant run on diesel unfortunately
Ya, the tax-free limit for conveyance allowance is 800 p.m. and if u do not take it, fuel allowance is 3000 p.m.
Anyway, they are not in addition to your salary, but are a part of it. The only benefit is that you save some taxes. Now how much tax can one save on this amount is obvious. Rs. 240 on 800 and Rs. 900 on 3000 (if you fall under 30% tax slab, else it will be even less than that)
Cutomer at Petrol Pump: Petrol de do!
Attendent: Kitne ka doun?
Customer: Rs 10 ka.
Customer: Haan, Bike jalane ke liye kaafi hai...
Now we really need someone to take the initiative and build a vehicle that runs on water, or carbon dioxide, or maybe just nothing. :p
Thank you for even imagining that such a vehicle can be built in the first place.
Research is already on by SHELL to run cars on water, but they don t want to release it.
Not Sure which direction we are heading... Rupee vs Dollar. it touched 56 we still say India Shining and rising econonmy? Rupee need to strengthen first.
Now the petrol Hike... Unless alternative fuel is not encouraged, there is not point thinking about petrol hikes. Hike in petrol means, everything else becomes expensive. Govt should encourage and give subsidy for people who use govt buses, additional benefit for people who use electric car.
We are just trying to fix the system, what i needed is comple over haul. A change in system. Do you agree?
I believe Indian economy strives on black marketing right from the time british vacated the country. Just look at dollar appreciation, air fare increases, commodity price hike, gold price zooming, real estate bubble, etc.
I don't think petrol hike means everything else becomes costlier, it is linked with diesel. But yes, this kind of price hike is not justified specially when public transportation is in a pity state in India
Price of petrol is Rs 63 and Rs 65 in Goa and Port Blair respectively. The price of the same in metros are Delhi 73, Chennai 77, Kolkatta 78 , Mumbai 79 and Blore 82. It obviously mean state Govt. taxes the commodity @ Rs 20 plus per litre.
@umesh: it's futile to curse RBI as Rupee is not falling due to failure of monetary policy but infact it is the failure of fiscal policies. subsidy burden,policy flipflop,failing to implement fiscal reforms,populist measures etc have been combined up and resulted in huge piling up of trade and current account deficits.
And these deficits are the real causes of the rupee's southward journey.
@ Avadhoot, i will blame RBI and govt together, both are hand in glove Lolz. Basically my theory is that if one increases the interest level to 6% to 8% we can expect dollar inflows, since internationally interest is pegged at 3 to 4%. It would mean double. Presently black marketing is taking place in dollar trading. The inflation too is not contained because of hoarding and blackmarketing not because of shortages of commodity.
कॉंग्रेस का हाथ...हम सबके साथ...पिछवाड़े पर देखो छपा हुआ है... :/
I think posting links here should not be counted as shamelss self-promotion as it is relevant to the thread. Here is my take: -
@Animesh i agree that is why i did not raise any objections, good post Saini
@ Animesh good post titled 7.50, we have reached the brink of bad governance, i hope Narendra modi makes a good PM in the next election
I believe now second hand petrol cars will be sold dirt cheap, those who have amibition of buying a car would be fulfilled by this move of the govt. Owners who have bought petrol cars would mull the alternative of switching over to gas