The past month saw a widespread public unrest as oil prices went to their highest levels. People across India criticized the government and governmental institutions for this. Widespread protest took place across the country including a National Bandh on October 4, forcing the central government to reduce taxes and duties on petroleum products. This creates a large loss of revenue for the government at this point and the economy is not performing well. At these instances, is the government putting itself in a worse position? Or will it be able to adjust the same from the increased taxation in other productive sectors?
Can the government’s decision be seen as a political stunt to satisfy the people ahead of the state and national elections? If the government begins to react like this instead of forming economic policies won’t it have to give in for all of people’s growing demand. And as human wants are infinity will this be a sustainable approach?
We will see soon😀
Can the government’s decision be seen as a political stunt to satisfy the people ahead of the state and national elections? If the government begins to react like this instead of forming economic policies won’t it have to give in for all of people’s growing demand. And as human wants are infinity will this be a sustainable approach?
We will see soon😀