The Government of India on Thursday evening raised the diesel price by a steep Rs 5 per liter and capped the number of subsidizing cooking gas cylinder to 6 per households a year, decisions that will rake in an additional Rs 20,300 crore to the oil companies.
However, the fuel price increase caused an instant political back lash. With this 12% increase in diesel price has evoked mixed reactions amongst the masses all over India. Even the reaction in social media world has been swift and varied.
Many people said hike in diesel price was needed for long term. Let’s check buzz around the diesel price hike across the web –
Many people have protested –
Many expressed their views on Facebook –
We did sentiment analysis and shown negative sentiment with -5.79% . The day after announcement of hike in diesel price, the sentiment spike went down with -7.89% on 14th September, on 15th September it was -4.22% , -3.66% on 16th September & is still down with negative spikes.
Although hike in diesel price adversely affects transport industry as well as causes overall inflation, internet population of India seems to acknowledge the bigger picture and realizes that it needs to be done.
Please keep in mind that given the internet penetration (~10%), this analysis only includes people who are likely to be well off.
Given India’s 40% population still under poverty line, they have few means to express themselves online. Their cause is however represented and advocated by likes of Jan LokPal which is driving the negative sentiment here. Actual negative sentiment may be a lot more if the internet penetration had been more.