Gas Price Hiked To About 62% Could Create Issues

Gas Price Hiked To About 62% Could Create Issues

Domestic natural gas price hiked to about 62%. This would likely to create many issues. The govt statement order issued on Thursday. Moreover, natural gas used for fertilizers, used to produce electricity and also used for automobiles. The hike of gas prices to about 62% is with effect from Oct 1, 2021. Though the major sectors like Reliance Industries ltd are already in huge benefit, the common man will be affected more with issues. This would also impact on the cooking gas price, where there would be an increase of 12% in few weeks.

The issues will impact common man on large scale. Domestic natural gas price hiked was much lower since a longtime. Thus, the govt has every reason to say that, it’s time to hike prices. With the rise of gas prices, there would be the rises of prices in various commodities. It’s again a major issue, which the opposition parties right before Uttar Pradesh election would be able to raise. We would know more about the impact of the rise of prices in 2021.

Once, the prices hiked would never be reduced. This means, there would be no U-turn. A cause of major crises for the middleclass people in India. That’s not bothering because the middleclass in India already in deep trouble. However, now the gas price hiked, then in about few weeks or months, people would know various issues will come up. The rate for gas produced from difficult fields such as deep-sea almost doubled, which would create economical issues.

Economical issues will lead to reduce smart product sales. People would likely to buy whatever essentials they need to other than spending anymore on smart products. These are some issues, which would create great impact on smart product industries, and there would be many more issues to come up. An example of smart product is nothing better than a smart phone.

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