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Tamil Nadu
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Chennai
Seminar on oil economy from January 24
Staff Reporter
CHENNAI
: A two-day national seminar on ``Oil Economy of India — issues, concerns and policies'' is to be held at D. G. Vaishnav College from January 24.
The rise in prices of essential fuels startled the economy. The Government has increased the prices seven times over a span of two years raising many questions. Oil has played a significant role in the process of economic development of a nation. According to S. Narasimhan, Reader and Head of Economics Department, the shortfall in the domestic oil production had to be met through import of oil and the spurt increase in international oil market price had forced the Government to increase the oil price.
Though the Government cited high oil prices in international markets, it has a cascading effect domestically as petroleum products are basic ingredients in every conceivable economic activity and shall stoke inflation.
The objective of the seminar would be to focus on the mismatch between demand and supply of oil, in general and petrol and diesel, in particular. For further details, contact T. Rama Karthikeyan at 94440-52371 or Jaideep at 98411-25795.
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