The electric challenge
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India, March 31 -- During a recent round of increase in petrol and diesel prices, many crocodile tears were shed by the politicians of all hues. The Centre and State Governments have raised incredible sums of money from excise duties, surcharges and cess on petrol and diesel. But the recent price surges saw the reality of Rs 100 a litre petrol in some States, and with Black Swan events continuing to take place, such as the Suez Canal blockage, and oil producers' cartel OPEC talking of production cuts, crude oil prices will not dramatically decline anytime soon. With the Reserve Bank of India keeping the rupee's exchange rate against the dollar steady, prices at the pump might not come down soon. With an ambitious infrastructure building p...
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