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Fuel subsidy misses the point
The government has announced a Rs75 billion subsidy on fuel consumption for 2/3-wheelers and small-car users. The scheme will run for three months, with the objective of providing some relief to bike and car users. Critics, however, are of the view that it may end up being more of a political stunt. The government might have good intentions, but it is using a proven failed method and may face more criticism than gain political dividends. Given the hike in prices, the relief is, at the end of the day, little more than a gesture. It should have done it in a better way. Petroleum prices have rise...
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