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Petroleum Product Pricing In India

Petroleum product pricing in India is steadily seen as a black gap of subsidies. Economists and oil companies complain concerning the impacts those subsidies have on public funds, financial performance of oil corporations and demand-aspect management. Nevertheless, on closer analysis, the difficulty of petroleum product pricing in India is more complicated than the one-manner movement of subsidies reported within the press. So the query to be answered is: how excessive are subsidies actually

Opposite to common perception, India’s retail costs for petrol and diesel are comparatively high despite subsidies. In reality, the total Government (central and states) oil price in 2015 taxes and surcharges on petrol merchandise exceed by far the annual budget subsidies for these merchandise. There may be oil price in 2015 thus a sure rationale for the federal government to keep up the current system though it does have damaging implications on the financial well being of public oil firms and acts as a deterrent to personal investments within the sector. As well as, the policy rationale of offering subsidies to allow poorer segments of society access to industrial fuels, can’t be proven conclusively and irrational selections among completely different fuels are being made resulting from distorted retail costs. The Indian power market and the economy as a whole can be higher off if the government would implement a consistent, clear and rational gas pricing system but with a view to political imperatives, that is unlikely to occur within the brief-time period.

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