Letter to BS: NDA's honeymoon seems to be ending now with rising oil prices

The National Democratic Alliance (NDA) government at the centre was fortunate to take the reins of the government in 2014, at a time when global oil prices were on a downward journey, a great relief for India — one of the top global crude importers — saving precious foreign exchange and controlling inflationary pressures. But NDA’s honeymoon seems to be ending now with surging global oil prices. A challenging situation confronts the Centre.

That said, the prediction of normal southwest monsoon for India in 2018 — a cheer for the farmers — is a good omen and welcome news for consumers against the backdrop of global crude prices moving northward, leading to inflationary pressures on the economy and therefore tougher daily life for the common man. There is a growing demand for reduction of duties on petrol and diesel to bring some price relief to consumers tethered by record high petrol and diesel prices. Bolstered by the ‘normal monsoon’ forecast, the government may consider offering some relief by way of reduction in duties 

Mahendra B Jain, Belagavi

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