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After Brexit, won't wages rise because of reduced immigration? And isn't that a good thing?The only way I can pay more to my staff is by making more money. I can make more money if I can export more goods, or increase the income from sales of my goods by reducing production costs or increasing prices.I can’t export more if 27 partners are suddenly not in a trade deal with my country any more - unless of course, 27 better trade deals come along instantly.I can reduce my costs… provided rent, power bills, rates, etc. don’t increase. I do that by reducing my wage bill. Oops, careful, we want wages to go UP, don’t we? OK, I’ll do it by reducing my workforce... Then wages for the rest can rise. Hurrah for the still employed. The rest can go on benefits… er, but then if everyone does this, taxes might go up to fund the benefits bill so I’m back where I started.I can increase my prices… provided everyone can still afford to pay them, of course. But - of COURSE, they can afford to pay more, because they’re all getting higher wages because … Brexit. No, that’s a circular argument, it won't work.Drat.You know, I don’t think this works. Immigration is completely irrelevant, which is why I didn’t even need to mention it. It doesn’t matter where the heck the employees come from, I still have to generate more income in order to pay higher wages, but Brexit makes it harder to do that, not easier.

Narendra Modi did not have anything to do with the reduced oil prices atleast directly. As pointed out by other answers here, the reduction in global oil prices has resulted in this reduction. Why did the global oil prices go down? Here's why...1) Increased production by OPEC (Wiki - OPEC) countries. Currently the world is producing 1 million barrels every day more than it needs creating a surplus. This is mainly driven by increased production in Saudi Arabia and Libya. Not to mention oil drilling and production has seen a general upward trend in other countries such as USA, India and China as well. Increased production => Increased global crude oil supply2) Innovation of Shale technology. This breakthrough innovation (Shale oil extraction) and its usage in an economically viable way has helped to vigorously cater to the seemingly insatiable hunger of the USA for oil. US being the most energy hungry country has historically been the biggest customer of global crude oil. Now the reducing dependence of the USA on crude oil owing to vast domestic shale gas fields has eased out a lot of space (in fact excess) for demand from other countries. Thus introduction of substitutes => Reduced global crude oil demand. (This reduced quantum of oil imports have helped the US to significantly decrease its current account deficit. This is also partly the reason for the recent strengthening of the dollar apart from federal bank policies.)3) Alternate sources such as clean energy / nuclear: Most European Union nations are on the path to phase out non-renewable sources of energy and are focusing on building capacity for cleaner energy sources such as wind, solar, tidal or other alternates such as nuclear energy. Again this => reduced crude oil demand4) Slowdown in major world economies. The recent economic slowdown in many major countries such as Japan have also impacted oil prices. The reduced demand for energy due to reduced national manufacturing output again creates reduction in oil demand.Thus in this macro-economic scenario, increased global crude oil supply + reduced demand => reduced global oil prices => reduced import cost for crude oil => reduced petrol/diesel prices in India.As you see Narendra Modi did not have anything to do with the factors for low prices directly. He is however involved with the de-regulation of oil prices which (though being a good step) is a follow-up action and not the primary reason.EDIT: Deregulation has been hailed by many economists as being done at the right time. However there is a caution bell being sounded as the developments in the middle-east unfold. Depending on events such as the damage that the rising ISIS forces bring about in the oil producing regions, or a recent OPEC meeting summoned by Venezuela to reduce crude oil output would directly affect global oil prices and thus increase oil prices for India too.

There is the issue of economies of scale, where larger better financed or, yes, even better run ventures, that have grown larger as a result, have found ways to increase productivity, and been able to reduce prices and increase market share.Increased production is how we all become richer.Unfortunately the downside of too much market share is that the impetus to control prices is reduced since the competition is reduced.One would hope that over time competitors would be able to catch up. If they don’t, the question then becomes why. If it is due to collusion, or other unethical anti-competitive practices one can expect that in the long run this will harm overall production, especially compared to the level it would otherwise achieve. And if it is contributing to higher inequality that can hurt aggregate demand leading to decreased production also.These are times and situations where government intervention such as implementatin of anti-trust laws and regulations are necessary to promote maximum economic growth and standard of living.