Forbes India Special on Petrol pricing decontrol by the Indian Government

Saturday, 26 June 2010 19:36 Written by  Published in Forbes India Cover Story Read 4207 times

A few minutes after the Indian government announced its intention of decontrolling the price of petrol, consumers and companies (both PSUs and private entities) are pouring in with their reactions. In this podcast, Cuckoo Paul, the Associate Editor at Forbes India who has been tracking the government decisions on oil since the mid-90s opines that this decontrol of petrol comes with an asterix which reads, "Conditions Apply".

While on one hand the government has declared that it will no longer control the prices, it has floated a rider which says that it might step in if things get awry.  In this quick chat, Cuckoo decodes some oil industry jargons such as 'under recoveries' and brings in her perspective on how the Indian economy may have to brace itself for inflation in the coming months, but the long term benefits will include cutting down the soaring budget deficit which is currently 5.5 per cent of the GDP.

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