Business Daily from THE HINDU group of publications
Monday, Nov 09, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Nov 09, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Mentor
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Policy Columns - For the Asking Cash for clunkers scheme Why cannot the Indian government emulate the cash for clunkers scheme of the US government? Meghna Tripathi, Gandhi Nagar Well, the scheme has won a lot of rave reviews especially from the starry-eyed developing nations. But without having the slightest intention of sounding cynical, it must be pointed out that it wasn’t marked by altruism or seriousness. Fuel-guzzling cars were sought to be replaced by more eco-friendly ones, and to stimulate demand for these cars, the government gave a cash subsidy to the purchasers. That the scheme remained open only for a short period — from July 1 to August 24 — clearly shows that the main purpose was to stimulate demand for cars rather than to cleanse the air. The scheme was evidently a product of the powerful auto industry’s lobbying efforts. Be that as it may, we in India cannot do something similar because already our subsidy bill is bursting at its seams and there would be a justified criticism of squandering away of our resources on non-merit subsidy given the fact that enabling people to buy cars, even if eco-friendly ones, cannot be accorded a high priority. S. MURLIDHARAN More Stories on : Policy | Automobiles | For the Asking
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