only big farmers, specially from punjab and haryana are unhappy. 80%+ of these sell their produce to govt compare to 5% farmer's getting benefited from govt's direct procurement.
plus there will be more obstacles from politicians as most of them control APMCs (govt mandi's). India's legal framework is not robust. Take case of pepsi vs gujarat farmer. Farmer was taking potato seeds from pepsi and selling to other for profit instead of growing himself. Pepsi sent court notice and suddenly it was pepsi who became anti-national mnc who was taking on poor farmers... result was negative publicity and pepsi had to settle.
Damned if you do, damned if you don't... but govt borrowing is constant from 2012... where is the low crude high petrol price advantage we had accumulated? "Additional borrowings … could take full-year issuance to a new high of 13 trillion rupees"
"supply from cash-strapped state governments is set to add to the market’s debt burden "
"amid the supply glut, with underwriters having to stepping in to rescue four of the past seven debt auctions... The benchmark 10-year bond yields are also inching up. " Bond traders in India brace for likely borrowing hike to Rs 6 trillion The additional borrowing could take full-year issuance to a new high of 13 trillion rupees from the current 12 trillion rupees target, according to Bloomberg calculations
Damned if you do, damned if you don't... but govt borrowing is constant from 2012... where is the low crude high petrol price advantage we had accumulated? "Additional borrowings … could take full-year issuance to a new high of 13 trillion rupees"
"supply from cash-strapped state governments is set to add to the market’s debt burden "
"amid the supply glut, with underwriters having to stepping in to rescue four of the past seven debt auctions... The benchmark 10-year bond yields are also inching up. " Bond traders in India brace for likely borrowing hike to Rs 6 trillion The additional borrowing could take full-year issuance to a new high of 13 trillion rupees from the current 12 trillion rupees target, according to Bloomberg calculations
Borrowing is not constant... It's growing at rate of 10-12%
2014 end debt was 50 trillion, now its 101+ trillion (not counting this year's borrowing)
But the question is right, what happened to all low crude price, high petrol tax collection ?? I guess we would never know...
Moreover, Most of govt borrowing were also removed off-budget (off-book) to PSU or other govt departments (e.g. debt on Food corporation instead of govt.. )
Borrowing is not constant... It's growing at rate of 10-12%
2014 end debt was 50 trillion, now its 101+ trillion (not counting this year's borrowing)
But the question is right, what happened to all low crude price, high petrol tax collection ?? I guess we would never know...
Moreover, Most of govt borrowing were also removed off-budget (off-book) to PSU or other govt departments (e.g. debt on Food corporation instead of govt.. )
India doesn't produce it's Oil, it's imported, plus taxes on Petrol pays for infrastructure. Even in EU countries Petrol is out of VAT (GST equivalent )