My Response: Thanks Marshall.. though you woke up rather late. You have proved yourself to be a great Economist. You deserve highest Civilian Award. Hope you replace either PM or FM of India for they are not worth calling economists. Aam Admi will be happy to have you in either of these two places as long as overall price rise, not just Oil, is under control
Above reply is to Marshall who wrote: It appears that Dr Barad has a very poor understanding of economics. The price of oil has gone up from $30 per barrel in 2004 to $139 per barrel. India imports nearly 85% of its oil requirement. The consumption of oil in India has gone up by nearly 30% during this period. As a simple student of economics will tell you someone has to bear this rising cost. The government has been postponing a price rise to avoid public wrath and Inflation. In the meanwhile the PSU oil distributing companies have been bleeding. Therefore, a price rise, though unpleasant and undesirable has been long overdue. It would have been a positive development had Dr Barad given his suggestions for avoiding the price rise instead of making sarcastic comments. Or maybe as a BJP supporter, he feels that vehicles can run on cow's urine as propagated by the BJP Uttranchal govt. which is busy selling bottled cow's urine for medical purposes. Best regards, Dr. U. G. Barad
