Micro-Scholarship, What it is, How can it help me.pdf
Raising petrol price
1. RISING PETROL PRISE IN INDIA-GOVERNMENT
CAN CONTROL?
Presented By
R.K. Shiva Kumar
Reg:11405227
Roll No:24
2. INTRODUCTION
Rising petrol prices is a big reason for
worry as it has a direct effect on the
prices of our basic needs. During the
last 1 years the petrol prices have seen
a step increase which is a big worry for
the society. Can government take some
steps to contain these prices or will
they keep burning holes in our pockets
in the same way?
3. Why Petrol Price Is Rising In India?
India is the world’s fourth largest consumer of
energy but with low per capita energy
consumption. With the ever increasing
number of private vehicles, an overall
domestic consumption of petrol and
petroleum product is on rise in India. There
was more demand of petrol than supply is a
leading factor of its rising price in India.
4. Cont.…
But rise in petrol price in turn has a rippling effect. As all the
commodities are transported across India on vehicles that run on
petrol or diesel, so increase in petrol price results in price rise of
these commodities as well. The greatest sufferer of all this is a
common man.
Today every Indian spends almost half of his income on food
items. If the petrol price in India keeps on increasing then every
food item will get costlier. It will result in less of savings and
more of expenditure. This in turn will affect the real estate,
banking and other sectors in India. Eventually, more and more
people will be pushed towards poverty line.
7. Why India needs to import oil?
India does not have enough of oil to meet
the growing demand of oil. Near about 1.4
million barrels of diesels are used per day
in India especially by farmers, trucks and
industry. So to meet the growing demand,
most of the oil is imported from other
countries resulting more expenditure. It has
been seen that petrol price has increased
about 2 times within the period of three
years and still rising. Ultimate result of
price hike of petrol is inflation.
8. Against
The main reason for regular hike in petrol prices is
corruption, imbalanced Indian economy, fluctuating dollar
value, dependency on imports, price of crude oil in the
international market, rising population etc. Many of these are
external factors and not under the control of government.
The other main reason for the increase in petrol price is
increase in demand compared to low supply of petrol, which
cannot be controlled by the Government alone.
Government alone won’t be able to control the price of
petrol, we as an individual should make an effort to save
petrol as much as we can. We all should use these scare
resources carefully.
9. CONCLUSION
Government alone cannot control the rising petrol
prices. We all as an individual also need to make an
effort with the government in order to curb the petrol
prices by using our vehicles efficiently. We can use
other means of public transport to go to places instead
of using own vehicle. We need to think individually in
order to save petrol for our self as well as for the
upcoming generation.
