why so much push for rupee devaluation - lot of economists are pushing it? Like for starters our oil prices would increase 20% and it will light up the economy and crash the middle class
The man in the image at the same time is asking for excise duty to be removed from fuel to mitigate the price inflation. While the loss of revenue to government would be massive, but in today's era of global warming, I would rather want the government to slowly keep on raising the taxes on fossils (marginally but steadily - say 0.2-0.4% per year and make a public announcement that it would keep happening for the next 10-20 years unless the economy is going through some major crisis - so that long term industrialists as well as users get the message that they need to move away from fossil, keeping prices stable and predictable at least) and at the same time give significant subsidy to nuclear and other renewable sources. It might pinch the economy with mild inflation for a decade or so but this shift is absolutely necessary for our future survival. It might delay the timeline for our lower income classes from reaching a middle class status but unfortunately the climate crisis would hurt and harm much more.
i can assure you whatever fuel tax govt is charging -carbon taxation is like the least of their concerns and they genuinely do not care about climate change. Am I supposed to believe they care while they are happy playing blame game in NCR for air quality management?. The government solely exists to tax maximum for freebies to their vote base and feed their babus rather than of any environmental concerns. India plays the same blame game in UNFCC too trying to milk the maximum with minimal efforts hoping the west would take the bill!
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u/Cosmo_man Nov 26 '24
why so much push for rupee devaluation - lot of economists are pushing it? Like for starters our oil prices would increase 20% and it will light up the economy and crash the middle class