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B) The govt. has withdrawn subsidy on petrol in the domestic market. But petrol is now selling cheaper than before. Do you think the withdrawal of subsidy has led to a rise in real income of people in India? Frame your answer in context of price of petrol in international market.?
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B) The govt. has withdrawn subsidy on petrol in the domestic market. B...
Withdrawal of Subsidy on Petrol in India
Recently, the Indian government has withdrawn the subsidy on petrol in the domestic market. This move has been taken in response to the increasing prices of crude oil in the international market. However, contrary to expectations, the price of petrol has gone down instead of going up in the Indian market.
Impact on Real Income of People in India
The withdrawal of subsidy on petrol has led to a decrease in the price of petrol in India. This has resulted in an increase in the disposable income of people as they are now spending less money on petrol than before. This increase in disposable income can be seen as an increase in the real income of people in India.
Price of Petrol in International Market
The price of petrol in the international market is determined by various factors such as global demand and supply, geopolitical tensions, and currency exchange rates. The Indian government has no control over these factors and therefore, cannot directly influence the price of petrol in the international market.
Conclusion
The withdrawal of subsidy on petrol in India has led to a decrease in the price of petrol in the domestic market. This has resulted in an increase in the disposable income of people and can be seen as an increase in the real income of people in India. However, the price of petrol in the international market is beyond the control of the Indian government and therefore, cannot be directly influenced by the subsidy withdrawal.
Community Answer
B) The govt. has withdrawn subsidy on petrol in the domestic market. B...
Other things remaining constant withdrawal of subsidies should lead to arisen in the market price of the commodity implying a fall in the real income of the people have your petrol is it is distinct is the bulk of the domestic supply of petrol is made from imports the price of petrol in the international market has so significantly reduced that even after withdrawal of subsidy in the domestic market petrol it is available to the people at a rate cheaper than before the real income of the people has region not before because of withdrawal of subsidy but because of substantial fall in the price of petrol in the international market leading to fall in price in the domestic market.
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B) The govt. has withdrawn subsidy on petrol in the domestic market. But petrol is now selling cheaper than before. Do you think the withdrawal of subsidy has led to a rise in real income of people in India? Frame your answer in context of price of petrol in international market.?
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B) The govt. has withdrawn subsidy on petrol in the domestic market. But petrol is now selling cheaper than before. Do you think the withdrawal of subsidy has led to a rise in real income of people in India? Frame your answer in context of price of petrol in international market.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about B) The govt. has withdrawn subsidy on petrol in the domestic market. But petrol is now selling cheaper than before. Do you think the withdrawal of subsidy has led to a rise in real income of people in India? Frame your answer in context of price of petrol in international market.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for B) The govt. has withdrawn subsidy on petrol in the domestic market. But petrol is now selling cheaper than before. Do you think the withdrawal of subsidy has led to a rise in real income of people in India? Frame your answer in context of price of petrol in international market.?.
B) The govt. has withdrawn subsidy on petrol in the domestic market. But petrol is now selling cheaper than before. Do you think the withdrawal of subsidy has led to a rise in real income of people in India? Frame your answer in context of price of petrol in international market.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about B) The govt. has withdrawn subsidy on petrol in the domestic market. But petrol is now selling cheaper than before. Do you think the withdrawal of subsidy has led to a rise in real income of people in India? Frame your answer in context of price of petrol in international market.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for B) The govt. has withdrawn subsidy on petrol in the domestic market. But petrol is now selling cheaper than before. Do you think the withdrawal of subsidy has led to a rise in real income of people in India? Frame your answer in context of price of petrol in international market.?.
Solutions for B) The govt. has withdrawn subsidy on petrol in the domestic market. But petrol is now selling cheaper than before. Do you think the withdrawal of subsidy has led to a rise in real income of people in India? Frame your answer in context of price of petrol in international market.? in English & in Hindi are available as part of our courses for Commerce.
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