Business Daily from THE HINDU group of publications
Thursday, Jun 26, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Jun 26, 2008 ePaper | Mobile/PDA Version | Audio |
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Opinion
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Letters Inflation crisis The last 30 years, India has been a valued partner of Russia, which has abundant oil, and is a big player in the world oil market, with equally abundant reserves lying untapped in Siberia. Why has not our Government leveraged this valued relationship to secure the country’s petroleum requirements on a long-term basis at fixed favourable prices. We have bought billions of dollars worth of Defence requirements from Russia which, over the years, has been paid back via Indian products. Even for strategic reasons, we do not want to be dependent on another nation. It is time we switch to alternatives on a priority basis, and make the use of solar and wind energy, wherever possible, in Urban and Rural India. To contain inflation, all petroleum taxes such as Central Excise and State taxes must be rationalised and prices made uniform all over the country. State governments must free the inter-State movement of goods. Central and State taxes must be slashed; in fact, made zero for all food items and heavily-used pharma products. The options before the Government are many; what is required is urgent action. A. Ramanathan Chennai More Stories on : Letters | Economy
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