Of Reliance, by Reliance, for Reliance

Hans Christian Andersen’s story about the emperor’s new clothes came to mind as I read the Finance Minister’s justification of the totally indefensible hike in India’s wellhead price for dry natural gas. The absence of any evidence-based research backing key economic decisions is the true “economic reality” of India, which is today the only country in the world that sees no difference between the wellhead price of natural gas and the price of liquefied natural gas (LNG).

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