We need something for our debate f
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An increase in petrol prices will not be good for the Indian economy. If you take a look at the United States economy, the increase in gas prices there have been very bad for the economy. There is no reason to think that if it was bad for the US, that it will be good for the Indian economy.
No, an increase in petrol prices is not good for the Indian economy, because it will raise prices. Food is often transported by truck. If petrol prices increase, the cost of food will also increase. The same is true for other goods, such as clothes. Higher prices do not help an economy, they hurt.