Government is in a fix over closure of petrol pumps by Reliance Industries over denial of subsidy on par with public sector companies, with Oil Minister Murli Deora today admitting that dealing with the situation was not easy – BS report.
Fertilizers and Petro products have always been subsidized in India as these are more a political issue than economic. Are they telling us Reliance Industries and Essar Oil entered the business without doing their math?
Anyways, Government is in a dole-out mood. It recently announced a Rs.60,000 crore farm loan waiver. Followed it up with the 6th pay commission costing about Rs.12,000 crore. Now let’s wait for the climax to play out in this grand conspiracy to favor big business. Screenplay seems ready. Film directed by Ambani-Ruia-Deora trio. First phase already won as per grand plan – Murli Deora re-nominated to Rajya Sabha unopposed.
Time to go long on RIL and Essar…?