India is falling into an economic chaos as Truckers goes on an indefinite strike from July 1
Harry Patil
Jun. 7, 2008

Indian Finance Ministry thought hiking the service tax rate on road lines will somewhat compensates the petroleum subsidy till the election. It was an interesting concept of keeping the oil price intact while squeezing the truckers of India.

It backfired. India’s finance minister Mr. Chidambaram is in deep trouble. Indian truckers on Friday warned of an indefinite strike from July 1 if finance ministry insists on hiking the service tax rate on road lines.

The most active Indian Truckers association Delhi goods transport united has notified the government and their member association of an indefinite strike from July 1.

The finance ministry plan to raise tax incidence from 3.09 to 12.5 per cent will break the backbone of transportation industry. AIMTC, representative body of truckers and transporters, on Thursday jacked up freight rates by 10 per cent and the hike may extend in coming months to 25%.

The truckers in India face massive rise in fuel price, lack of paying power of the consumer and rising tire cost.

India is falling into an economic chaos as Truckers goes on an indefinite strike from July 1
Harry Patil
India’s finance minister Mr. Chidambaram is in deep trouble. Indian truckers on Friday warned of an indefinite strike from July 1 if finance ministry insists on hiking the service tax rate on road lines.
READ MORE>>

As India hikes fuel prices inflation heads towards 9 to12% - Sensex can lose half of its value in less than a year
Pijush Lodha
The worst thing that can happen to a stock market is the rising inflation, economic stagnation and rising interest rates.
READ MORE>>

Buoyancy in agriculture sector lifted India's economic growth to 9% in 2007-08
Sysndicated Media
The agricultural and allied sectors grew by 4.5% during 2007-08, compared to earlier estimates of 2.6%. However, the manufacturing sector witnessed some slowdown. The growth rate in the sector for 2007-08 lowered to 8.8% ...
READ MORE>>

India’s Congress party continues oil subsidy to gain votes – a move that will cripple India for the next fifty years and cause rationing and shortages
Kirit Chauhan
The long term effect is socialism that will encourage subsidized rationing instead of free market place. It will take India back to 1960s when the country depended on foreign aids.
READ MORE>>

Indian inflation to be revised to 10% but in reality common people face inflation well above 30% - the dark tale of ruining Indian economy
Rita Nair
It is mind boggling how Manmohan Singh and Chidambaram failed as economic leaders with their PhDs in economics and finance from world’s leading institutions like Cambridge and Harvard.
READ MORE>>

A 30% rise in cooking gas, 25% rise in gasoline ready to send shock waves through the Indian middle class economy
Harry Patil
%. The hyperinflation in food and energy is a reality in India today. The fault however lies to little educated and prudent Indian politicians that did nothing to move into alternative fuels.
READ MORE>>

Sensex slides further in a classic bear market pattern in the middle of uncontrolled inflation
Partha Chatterjee
What was typical of a solid bear market is that of receding volume and pronounced weakness in market breadth. Out of 2,758 stocks traded, 667 advanced, 2,043 declined and 48 were unchanged.
READ MORE>>

MORE ARTICLES >>