REAL FACT BEHIND PETROL,DIESEL & LPG PRICES

U.P.A 'S SECOND ANNIVERSARY GIFT TO COMMON MAN


PETROL PRICES WENT UP BY RS.7 (23/5/2012)


DIESEL PRICES TO GO UP BY RS 5 ON MONDAY (28/5/2012)


L.P.G PRICE TO GO UP BY RS 50 BY MONDAY  (28/5/2012)


GOVERNMENT SAYS

Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to USD 120 a barrel in mid-April from USD 111 in January.

For the current fiscal, the government has made a provision of Rs 43,580 crore for oil subsidies, of which Rs 40,000 crore has been earmarked as compensation to oil marketing companies (OMCs) for selling petroleum products at lower than market rates.

REAL FACTS BEHIND PRICE RISE


During the 2011-The government targets to bring down the subsidy bill to below 2 percent of GDP this fiscal and 1.75 percent in the subsequent years. 12 fiscal, the government has paid Rs 65,000 crore to OMCs on account of under-recoveries, of which Rs 20,000 crore alone was for the January-March quarter.

High subsidies are putting pressure on the country's fiscal deficit, which touched 5.9 percent of GDP last fiscal and is pegged at 5.1 per cent in 2012-13. India imports about 80 per cent of its crude oil requirement.


COMMON MAN PLEA


Subsidy cut off for common man  & Tax waving for corporates . Manmohan this india common man's india
"Beware don't ignite second war of Indian Independence with Petrol "


DURING RECESSION  (2007) PETROL BARREL PRICE WAS 140 USD
PRICE PER LITER INDIA 45 RS  


PRESENT PRICE 120 USD / BARREL 
PRICE PER LITER INDIA 81 RS

MULLAPERIYAR LATEST REPORT

The report filed by the five-member panel of jurists headed by Justice A S Anand, appointed by the Supreme Court on the Mullaperiyar issue, which is obviously against the interests of Kerala, has evoked mixed response.
Water Resources Minister P J Joseph said that the report on the Mullaperiyar dam was against the interests of Kerala and it could not be approved.
“How can a dam which is 116 years old be termed as safe,’’ he said and asserted that Kerala did not consider the report as a last word.
Joseph also criticised the stand of Justice K T Thomas, the representative of Kerala in the SC-appointed panel.
“It is sad that he has taken such a stance while framing the report,’’ he said.
Kerala will continue its fight for a new dam in Mullaperiyar, Joseph said.
Justice Thomas, on the other hand, asked how can one say that the report was against the state’s interests. He also said one cannot disagree with the findings of the panel, since facts have to be taken into account.
“A 12-member expert technical committee had conducted umpteen tests on the dam to evaluate its actual strength. Is it not a respite for the people of Kerala to know that a fool-proof expert committee has certified that dam as safe under various parameters. By describing a safe dam as unsafe and thereby creating a scare and fueling animosity between the people of two states may be useful if one is playing to the mass media,’’ he told ‘Express.’ “At the same time, I’ve made a strong dissenting note in the report against the majority recommendation to raise the water level in the dam from the current 136 ft to 142 feet. I’ve pointed out that the Idukki dam was constructed after Independence and as such, Kerala should get sufficient water from upstream areas, where Mullaperiyar is situated. Within the 136 ft level, Tamil Nadu was meeting its water needs for electricity and power generation in the past many years and, therefore, there is no need to raise the water level. My stand has nothing to do with dam safety,’’ Justice Thomas said.
“Last if not the least, the report clearly states that the scope of a new dam should be looked into,’’ he added.
Kerala should proceed to build a new dam and also find ways legally to get a market value for Mullaperiyar water used for power generation from Tamil Nadu, he said.
However, former Water Resources Minister N K Premachandran termed the SC empowered committee’s report as disappointing and unilateral.