Points That Were Undermind For Increased Fuel Prices...While going through the various posts on the Facebook, I also came to know about the unpaid petrol bills to the Iran. Pl. let us read the below details,
ABP News … PM Modi paid an installment of the debt piled up in the UPA government's regime. The UPA government paid just 55 percent of the oil bill to Iran. The money is not just 43 thousand crore rupees as Iran wants payment in the current value of Euros. India paid Rs 5000 crore back to Iran. And so the high prices of oil in India is the gift by UPA Government that we are suffering.
Although, the rupee is still on the higher side against the US dollar, macro-economic factors such as inflation and fiscal deficit are well within controllable levels. Hence, it is safe to say that the Modi government made a wise decision to not lower the petrol prices. Had they done so, it might have seriously damaged the Indian economy. The crude oil prices, which is said to be at its 12-year lows in dollar terms, have helped our economy as it has helped the Indian government revive three things which are critically important to the economy -- inflation, interest rates and fiscal deficit. And it was these very factors that almost derailed the Indian economy.
If we want to explore more then we can find out in the Internet & through Google.com. The experts are requested for more enlightenment in this context.