U.S. gas prices hit a record level earlier this month. Limiting 'pain American people are feeling at the gas pump' was a main objective Biden set out in responding to Russia’s invasion of Ukraine.
Material costs for industry will go up, pandemic recovery will take longer. But question is how long oil prices will stay high, with West avoiding sanctions on Russia’s energy sector.
Investors, fund managers are concerned with effects of govt pricing policies on ONGC’s share price, reimposition of subsidies and lower state-set prices.
The collusion between the new class of bureaucrats, politicians, businessmen and trade union bosses perpetuates itself partly because of the short-run benefits and partly because they see no way out of the system, wrote author MH Mody in 1980.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
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