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By:

Correspondent

21 August 2024 at 10:20:16 am

Fuel Shock

The latest increase in petrol and diesel prices — the fourth hike in just 11 days — underlines how vulnerable India remains to geopolitical turmoil and its own unfinished reforms in the energy sector. Brent crude surged again after fresh American military strikes in southern Iran deepened fears of the renewal of the Iran conflict on a higher scale. Markets are now gripped by uncertainty as hopes of a negotiated settlement continue to fade. For a country like India, which imports more than 80...

Fuel Shock

The latest increase in petrol and diesel prices — the fourth hike in just 11 days — underlines how vulnerable India remains to geopolitical turmoil and its own unfinished reforms in the energy sector. Brent crude surged again after fresh American military strikes in southern Iran deepened fears of the renewal of the Iran conflict on a higher scale. Markets are now gripped by uncertainty as hopes of a negotiated settlement continue to fade. For a country like India, which imports more than 80 percent of its crude oil requirements, every geopolitical tremor in the Gulf quickly translates into pain at the fuel pump. Since May 15, petrol and diesel prices have risen cumulatively by nearly Rs. 7.5 per litre. In Hyderabad and Thiruvananthapuram, petrol has crossed Rs. 115 a litre. Mumbai, Kolkata, Bengaluru and Chennai are all witnessing sharp increases. Even Delhi, traditionally cushioned by relatively lower taxes, has seen petrol move beyond Rs. 102 per litre. This marks a significant shift after nearly four years of relative stability in retail fuel prices. For long periods, state-run oil marketing companies absorbed the burden of elevated crude prices, shrinking refining margins and a weakening rupee. Political considerations, particularly around elections, often delayed price revisions. The Rs. 2 per litre reduction announced ahead of the 2024 national elections was a reminder that fuel pricing in India has never been entirely divorced from politics. But oil companies cannot indefinitely absorb mounting losses, especially when global crude prices remain elevated. The Centre has already cut excise duties, with Finance Minister Nirmala Sitharaman estimating the revenue sacrifice at nearly Rs. 1 lakh crore. That fiscal cushion has now largely been exhausted. The spotlight is therefore shifting towards states. VAT on fuel remains one of the most lucrative revenue streams for state governments, with some states imposing levies exceeding 30 percent through taxes and cess components. This explains why states such as Telangana, Kerala and West Bengal continue to record some of the highest retail fuel prices in the country. The Centre is now subtly nudging states to reduce VAT rates to soften the blow on consumers. Yet states are reluctant. Their dependence on fuel taxes is structural, not incidental. Apart from excise on liquor, few revenue sources offer such steady and politically manageable returns. Bringing petrol and diesel under the GST framework continues to face bipartisan resistance from states fearful of losing fiscal autonomy. Rising fuel prices do not remain confined to petrol stations. They seep into every layer of the economy as transportation costs rise, food inflation accelerates and household budgets shrink. Small businesses, already coping with weak consumption and high borrowing costs, are facing renewed pressure. India’s recurring vulnerability to crude oil shocks exposes the limits of its energy security architecture. Expansion of strategic petroleum reserves and greater investment in renewable energy can no longer remain aspirational talking points. They must become urgent national priorities.

More Than a Celebration, A Lesson for Life

Beyond rituals and prayers, the festival marking Lord Hanuman’s birth reminds us that true greatness lies in being strong yet humble, fearless yet kind, and powerful yet compassionate.

What makes this day truly special is not only the celebration but also the reminder of who we can become. Lord Hanuman had immense power, yet he never let pride enter his heart. He chose humility over ego, service over recognition, and faith over fear. In a world where we often seek appreciation and validation, his life gently teaches us that true greatness lies in quiet dedication and sincere actions.


His journey is deeply inspiring—whether it is his fearless leap across the ocean or his unwavering commitment to his purpose, Hanuman shows us that the biggest obstacles can be overcome when we believe in ourselves and stay connected to our inner strength. Often, in life, we forget our own capabilities, just as Hanuman once did, until he was reminded. That moment reflects our own lives—we all have hidden strength waiting to be awakened.


Modern Life

Today, when life feels rushed, stressful, and uncertain, Hanuman’s personality becomes even more relevant. His calm mind, disciplined life, and loyal heart remind us to stay balanced. His devotion teaches us to stay rooted in values, no matter how modern or fast-paced life becomes. In moments of pressure, confusion, or emotional exhaustion, his example reminds us that strength is not always loud—it is often seen in patience, steadiness, and the ability to remain grounded.


Hanuman Janmotsav is, therefore, not just about prayers—it is about reflection. It is about asking ourselves: Can we be a little more patient? A little more fearless? A little more selfless? It is also about carrying these values into our daily lives—through the way we speak, the way we respond to challenges, and the way we support others without expecting anything in return.


Strength with Humility

Beyond this, Lord Hanuman also teaches us the importance of controlling our minds. Despite having extraordinary strength, he was never controlled by anger or ego. In today’s world, where emotions often overpower our decisions, his life reminds us that true power lies in self-control and clarity of thought.


He also represents unwavering positivity. Even in the most difficult situations, he never lost hope. This teaches us that no matter how challenging life becomes, maintaining a positive mindset can transform our journey. His faith was not blind—it was strong, steady, and filled with trust in a higher purpose.


Another beautiful lesson we learn from him is loyalty in relationships. In an age where connections can sometimes feel temporary, Hanuman’s dedication shows us the value of standing by people we care about with honesty and sincerity.


If we look deeply, Hanuman Janmotsav becomes a guide for modern living. It tells us that success is not only about achievement but also about character. It is about being strong yet kind, powerful yet humble, and capable yet compassionate.


If we can carry even a small part of his strength in our actions, his humility in our attitude, and his devotion in our hearts, then this celebration truly comes alive within us. When its message moves beyond rituals and enters our conduct, Hanuman Janmotsav becomes more than a festival—it becomes a way of living.


(The writer is a tutor based in Thane. Views personal.)

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