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DAILY NEWS ANALYSIS
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27 May, 2020
5 Min Read
PAPER- GS-III OIL CRISIS
The increased duty on fuel can fund welfare, but arbitrary methods will have implications
Union Petroleum Minister that the Centre is taking a ‘cautious and conscious approach’ of ensuring a balance in fuel prices and aims to use the resultant savings for welfare is on the face of it unexceptionable. With global oil prices still about 45% lower than 2019 closing levels despite coordinated supply cuts by major producers, India had an opportunity to pass on the benefit to consumers and provide a fillip to becalmed consumption.
Imp Points
With curbs on inter-State road transport still in place, contracting automobile sales unlikely to recover any time soon, job losses and pay cuts sure to shrink household budgets, it is hard to see transport fuel demand rebounding to pre-lockdown levels for at least one or two quarters. Add to that the fact that the Centre’s ambitious disinvestment target of ?2.1-lakh crore for this fiscal had included a stake sale in BPCL, and the petroleum products’ pricing approach gets even more complicated. With potential investors unlikely to be impressed by the lack of autonomy in the sector, it is in the government’s interest not to risk the health of the goose that lays the golden eggs.
Oil crisis past to present: https://www.aspireias.com/daily-news-analysis-current-affairs/Oil-Crisis-Past-to-Present
Source: TH
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The Turtle Wildlife Sanctuary, also known as the Kachhua Sanctuary, is located in the Varanasi district of Uttar Pradesh. It is recognised as India’s first freshwater turtle wildlife sanctuary, established to conserve endangered turtle species and support the ecological health of the Ganga River. Location and Extent The sanctuary co
02 Dec, 25
The Ministry of Education plans to introduce Artificial Intelligence (AI) and Computational Thinking (CT) from Class 3 onwards in the 2026–27 academic year. This initiative is part of the National Curriculum Framework for School Education (NCF-SE) 2023 and aligns with the National Education Policy (NEP) 2020. The aim is to prepare student
02 Dec, 25
Scientists from the Environment Department of Himachal Pradesh University (HPU) in Shimla have recently revealed that the Sal tree (Shorea robusta) is the most effective natural air purifier for combating rising pollution levels. Their findings highlight the tree’s superior capacity to trap dust, absorb gases, and cleanse the air compared
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The President of the United States has ordered the resumption of nuclear weapon testing after a gap of 33 years, the last test being in 1992. This decision marks a significant shift in global nuclear policy and has far-reaching implications for geopolitics, the environment, and international security. Status of Global Nuclear Weapon Testing
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