Former finance minister P Chidambaram slammed the Modi government in a series of tweets over the skyrocketing petrol and diesel prices
Former finance minister P Chidambaram slammed the Prime Minister Narendra Modi-led government in a series of tweets over the skyrocketing diesel and petrol prices.
Chidambaram pointed out the current petrol and diesel prices are higher than the fuel prices in May 2014 despite crude being cheaper than what it was then. He blamed the ruling dispensation's "Tax the Consumer" policy. Currently, the price payable by the consumer comprises excise duty and VAT which is different for different states.Crude oil price at US $ 74 per barrel is still lower than US $ 105 four years ago. So, why are Petrol/Diesel prices higher today than they were in May 2014?
— P. Chidambaram (@PChidambaram_IN) April 20, 2018
The Rajya Sabha MP said the BJP government has lived off "an oil bonanza" for the past four years, but is now "clueless and floundering".
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He also criticised the government for refusing to bring petro products under GST.
BJP boasts that it is ruling 22 States.Then, why does the BJP government refuse to bring petroleum and petroleum products under GST?
— P. Chidambaram (@PChidambaram_IN) April 20, 2018
Diesel prices spiked to an all-time high costing Rs 65.27 in Delhi and Rs 69.50 in Mumbai on Thursday. Prices of diesel and petrol have been on the rise consistently since the Narendra Modi-led government introduced dynamic pricing for fuel in June last year.
Under the scheme, the price of fuel is revised daily on the basis of the global price of crude oil and the rupee/dollar exchange rate.
Earlier, Rahul Gandhi had even accused Narendra Modi of “misinforming people” saying that the middle class is bearing the brunt of rising fuel prices at the behest of the BJP government.