Monday, May 16, 2011

India in Self Destruct

India as a country is turning into a beautiful wasteland.

This country is marred by more corruption, than one can ever imagine. The entire system is so corrupt there is no measure to it. Me being in a particular profession; have rather a fair idea abt corruption in Income Tax, Indirect Tax and even other departments. The cops in the country are amazingly corrupt; with even the traffic cops being at the top of the order. The traffic cops will generally stop anyone and ask for some papers like trying to shoot an arrow in the dark; then you do not own a paper; u have to pay fine which they will claim to be stupendous. But, then they will settle for even INR 100 (approx. USD 2.00) for the alleged crime. And the cops in general set a bigger game.

Yesterday, the ruling government took an amazing blow by destroying the Indian Middle Class which is echoed by the INR 5.00 hike in petrol price and further planning hike in Kerosene, Diesel and LPG prices. What is stunning is that these hikes are announced right after the elections. This is absolutely phenomenonal. I mean u win / lose the election and then let the Oil companies in India viz., (BPCL, HPCL and IOC all listed companies) hike the fuel prices. Now, I do sympathize with the companies for selling fuel at a steep discount to the population of the country; however, these companies are reimbursed for their loss by OIL BONDS issued by the government for the under-recoveries.

What I fail to understand that, while the government has nearly inflated the prices of petroleum products by imposing nearly taxes and charges; it is paying the oil companies via bonds. Why do the reverse thing. Ok; this is good measure to get the government finances in right shape, as it is collecting money from the common people and giving bonds to Oil companies.

So, lets i understand that tehre are some INR 30,000 crore (INR 1 crore: 10,000,000) of under-recoveries. Well, now that is still lot less than the recently un-covered scams for e.g. the 2G Telcom license issue scam running in INR 176,000 crore; and the Common Wealth Games scam, Housing Scam etc. etc. etc. and many many many more. I mean the list is endless.

I am lost of words; whatever happens.


Anonymous said...

India is not the only country which is corrupt. every nation is corrupt.. we kno the figures of indian corrupt politics as the citizens of the country... so cribbing abt this is lik shouting at a wall.. !!

on the contrary, wat i dnt understnd is, RBI is fighting to control inflation by hiking rates. on the other side, oil ministry is hiking the prices of petrol and a hike in diesel n cooking gas whic wud spook inflation furthr is on cards. cant these 2 govt bodies work togethr to fight thte rising oil import bills and inflation...!!!

Vivek Marne said...

It seems whoever Anonymous posted comment is ok with FUEL hike.

Great India is not the only country.. Really that is soothing to hear to my ears. :P