Compare this with profits of more than Rs 400 billion in the previous year. It is the opportunity cost of subsidies that would be the most damaging for the country. If the Rs.600 billion forsaken by the oil PSUs were available to them, they could have added more than 15 million tonnes in refining capacity. To put things in perspective, the subsidy enjoyed by the rich could have financed almost the entire amount required by Finance Minister P. Chidambaram for the Rural Employment Guarantee Scheme for fiscal 2005-06.
For complete IIPM article click here
Source:- IIPM Editorial
For complete IIPM article click here
Source:- IIPM Editorial
