New Delhi, Sep 11 : The Congress on Sunday claimed that diesel and petrol prices were controlled by dates of the elections rather than due to global rates.At an event in the press, Gaurav Vallabh, the party’s spokesperson, claimed that the rise in retail inflation, GDP increase, as well as a declining rupee are just a few of the instances that paint an unsettling picture of the way in which the economy was managed.
He claimed that the BJP government was causing new lows with more data points being released by its government.The middle and lower-income classes are the most affected by the incompetence and smugness of the government.
“Retail inflation was over the RBI’s upper band of 6 percent in the past seven months.Commodities like food vegetables, fuel, and food are a major problem for the middle and lower-income groups the most.
The federal government is the most insensitive to fuel prices.Because they have an effect that cascades over all aspects of economic activity, the government’s actions are a sign of its lack of understanding and a misguided attention to detail,” he said.
The leader of the party said the price of crude oil are steadily in a downward trend over the past few months and are currently at seven-month lows.
“But the costs of diesel and petrol in our country do not appear to be reflecting this change even after deregulation, which implies that the price of diesel and petrol should be adjusted in line with global market prices.”
According to the Petroleum Planning & Analysis Cell (PPAC, Government of India), Crude Oil Indian Basket as of September 8 stood at USD 88.00 per barrel.
On May 21st the government declared a reduction in excise duty on diesel and petrol by Rs 8 and 6 per litre which led to an increase of the price of petrol by about Rs 9.5 per litre, and diesel rates by 7 rupees per litre
“After election results in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur the diesel and petrol prices were increased nine times in 10 days between March 20 between March 20 and March 31.” Vallabh said.
miz/dpb
