Some simple rules of the road, rather than some sweeping theory about institutions or geography, will determine India’s economic success over the visible time horizon. Why do Nations Rise and Fall This is the question which draws a lot of attention not only from academic point of view, but also for the stakeholders related to a nation. Stakeholders may […]
Financial Education and Investor Protection It is needless to say that over the last few decades, the global economy has witnessed the emergence of developing economies, increased global integration and financial innovation. These factors along with the technological innovation which includes internet and the electronic movement of money, has helped the economy grow at a […]
Stagflation The Indian stock markets have been going up recently on some reluctant economic reforms done by the Government. Note most of these piecemeal changes have not changed the downward trajectory of India’s economic growth. These cosmetic changes were done to appease the foreign investors who were threatening to leave India en masse. The lethargic […]
The Indian Government has been enmeshed in a never ending series of scandals and scams. The government constantly fighting the endless attacks on it by the opposition and allies alike has been paralyzed letting the economy go to the dogs. The economic growth has almost halved due to this policy freeze as well as the […]
The Indian economy has performed strongly over the last few years, regularly hitting 8% and above growth rates . This rapid economic growth has led to a significant increase in demand for crude oil and natural gas, to the extent that India is currently the sixth largest consumer of oil and gas. India is one of the biggest importers of crude oil and natural gas as it has to import 2/3rd of its requirements of Oil. Upstream activity in India has rapidly grown post liberalization with 42 active offshore rigs and several seismic vessels engaged in operations offshore on the east and west coasts. Several significant discoveries have been announced since the New Exploration and Licensing Policy (NELP) was introduced. The commercial discovery of the Dhirubhai field by Reliance in the deepwater Krishna Godavari basin has demonstrated the existence of significant reserves in the basins of India. As India imports about two-thirds of its crude oil requirement, Exploration and production of oil and gas is critical for India’s energy security and economic growth. Over the years the E&P industry has registered significant growth, primarily due to spiraling crude oil and gas prices.
The Indian Government failed to pass a law reforming the structure of state subsidies to the Oil sector .The Meeting between a empowered committee of Indian ministers was expected to loosen the control over prices of petrol,diesel and cooking gas.However the Government failed to make any headway citing high inflation as a reason to delay […]