Reliance gas ripoff: UPA puts up a smokescreen

After the great gas rip-off, here comes the cover-up. It’s a beauty wrapped up in riddles about pricing formulas and helped along by contradictory signals from the government’s arms. The end result, predictably, is confusion about the gas price increase—which the government stresses, is here to stay. Make no mistake; this smokescreen defl­ects attention from the fact that Reliance, the country’s largest private sector gas producer, will be a major beneficiary from the UPA’s decision to increase gas prices for five years, starting April 2014, ahead of the next general elections.

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