Retail prices of diesel and petrol are at an all-time high in India. Is this because of the rising crude oil prices, or is there another explanation? Amit Bhandari, Energy and Environment Studies Fellow, offers an answer.
The government’s short-term approach to tax planning brings in immediate revenues but has the long-term downfall of driving away business, and encouraging tax evasion. No country has taxed its way to prosperity and India is no exception.