The Steep rise in the Price of Oil globally is being attributed to the High levels of Consumption being practiced by Developed Countries and the Developing Countries. Just turn on any primetime Television News channel and you get the Just in News from the respective Sources that the Government is going to increase th Price of Petrol and diesel from tonight.
The Oil Price Issue has placed the United Progressive Alliance Government into a Catch 22 Situation. To Overcome the Losses being incurred by the Oil Marketing Companies if the Govt. approves the increase in Oil Price Owing to the Pressure of OMC’s then there is every possibility that the Inflation rate which is already at a 45 month High at 8.2% will reach new heights making the life of Aam Admi more miserable.
On the Contrary if the Govt. wants to play the role of a Silent Spectator the Losses made by the OMC’s threaten to reduce the Economic Growth rate which is currently booming paving every way possible to reduce our Development by causing a Deficit Budget.
To come up with some facts apart from the Growth Rate and Inflation rate, The 2009 General Elections are on their Way and given the Shoddy performance of Congress in the recent Karnataka Elections and the Govt’s inability to handle the Rajasthan Gujjar Issue adding up to the list of odds is the deteriorating Situation between India and Pakistan and worse is the 123 Nuclear Agreement Issue. The UPA certainly has got to keep its heels running if at all they want to make their foray into 2009 Elections.
Also the Promises of Loan Waivers being promised to the Rural Bandwagon still remains as a Distant dream to many Villagers. And to remind you that we are in a Coalition Govt where in Congress can’t make its Decision by itself with out consulting their Better halves vis-à-vis the Left parties who have a big NO as their immediate response..
The List of UPA’s Pain Points go unending with their internal Squabbles adding fuel to the fire making the future of UPA Dim.
