Interview with Dr. Suma Singh Dean of Humanities Associate Professor Dept of Economics Mount Carmel College, Bengaluru

Interview with Dr. Suma Singh, Dean of Humanities Associate Professor Dept of Economics Mount Carmel College, Bengaluru

By Malini Shankar 
Digital Discourse Foundation 
How will the oil glut affect oil pricing in the near term and long term for India?- Well the slide in oil prices is largely triggered by the excess supply given the drastic fall in demand worldwide due to the pandemic. The slide is good news for economies like India who are major oil importers. Technically the fall in world oil prices should have translated to lower retail prices in India. Unfortunately the economic crisis post Covid-19 has meant the revenue resources for Government Of India have dried up. We can expect drastic fall in GST collections for March, April and May. But Government Of India must open its coffers to ensure saving of Jaan and Jahaan. In such circumstances the customs and excise duty on petrol and diesel are the main income sources for Government Of India. So we can't expect the international situation to have an influence on internal prices. But the silver lining is it would reduce the deficit in the Balance of Payment. 

Why can't GST be introduced for oil pricing in India? Wouldn’t it be sustainable both financially and ecologically 
GST on petrol and diesel will be unacceptable to State Governments as excise/VAT on petrol and diesel are very important revenue sources. Post GST the revenue sources have become limited to the States and they are becoming more dependent on GST transfers from GOI. Also the freedom to levy VAT/excise on petrol and diesel gives the State Governments some leverage during crisis times. Yes ideal situation would be to bring petrol and diesel under GST but this may be a long road to reach. 

What is the ecological impact of falling oil prices? 
Falling oil prices may slow down the move to green energy in transportation sector. The Electric Vehicles boom predicted may be delayed as Electric Vehicles are still not cost viable. 

Comments

Post a Comment

Popular posts from this blog

Interview of Manil Joshua, CEO, Founder Member SEDS NGO Anantapur, Andhra Pradesh

  Interview Manil Joshua SEDS Anantapur 1.        What are the rural development initiatives undertaken by SEDS?   ·          Afforestation ·          Vocational Training Programme ·          Food for work programme ·          Self Help Groups for women ·          Water shed programme ·          Dry land horticulture and reforestation ·          Natural Resources Management ·          Safe Drinking Water & Repair of Hand pumps ·          Health and Sanitation Programme ·          Flood relief programme ·    ...
Read more

Interview with Mrs. Neelam Manjunath, CGMBT on bamboo as construction material

Image
Every year we pay lip service to environmental causes by earmarking special events like Water Day, Earth Day, Environment Day, Wildlife Week, Vanamahotsav etc. Earth Day is celebrated or observed on 22nd April every year, so we thought of touching chords by sharing something truly inspiring: Bamboo as construction material. With Government of India recently approving bamboo as construction material, it paves the way to revolutinise construction industry and real estate business by drastically reducing costs, and moreover in the COVID era it affords us more space by reducing costs and literally giving us healthier atmosphere. Malini Shankar of Digital Discourse Foundation caught up with Mrs. Neelam Manjunath , of Centre for  Green  Materials &  Building Technology in Bangalore. She is a leading voice advocating usage of Bamboo in the construction industry.  Here is our expert interview for the Earth Day 2021.   1. What are the indigenous earthen materia...
Read more

Interview with Kashmiri journalist on impact of nullification of Article 370

Interview with Umar Shah Kashmiri journalist Digital Discourse Foundation Interviewed by Malini Shankar 1 Umar what did Article 370 mean to the common man in J & K before it was abrogated?   It meant nothing at all. The people of Kashmir were least concerned over the internal autonomy. For them, it is the Indian government which has been ruling them since 1947.     Not even a single person was rejoicing over having own flag, constitution or power to amend the Indian laws. However, if there was anything people were worried about- it was the State Subject Law enacted by the Hindu King of Kashmir- Hari Singh back in 1927. It was later incorporated in the Indian constitution through 1956 presidential order and was known as Article 35-A. This Article was the component of Article 370.     The Article 35-A used to bar outsiders from buying any property in Jammu and Kashmir. For the people, this Article was a shield that used to protect their Muslim majo...
Read more