 "BJP to raise petrol price hike issue in Parliament")
Blaming the United Progressive Alliance government for “losing control of the economy”, former finance minister Yashwant Sinha said there was complete chaos in the economy that had led to devaluation of the rupee.
Taking note of the development, senior leaders of the Bharatiya Janata Party (BJP) want to raise the issue in the coming monsoon session of Parliament to corner the Union government. “The rise is in petrol price is just one important issue. There are many issues on which the Union government will be made to clarify in the monsoon session,” said Murli Manohar Joshi, senior BJP leader and chairman of the Public Accounts Committee.
A day after oil companies increased petrol prices by Rs 2, the Union government faced severe criticism from Tamil Nadu chief minister J Jayalalithaa as well. The increase was spurred by the weak currency, which itself was a result of “administrative incompetence and incapability”, she said.
“Instead of taking steps to control the rupee, the central government is just revising the rate of petrol as per its whims and fancies and this is the best example of its administrative incompetence and incapability,” said Jayalalithaa.
Said the BJP’s Sinha: “The government has completely lost its control over the economy, on economic policy that is why there is complete chaos. The [petrol price rise is not because the price of crude has gone up in the international market. The recent hike is because the rupee has declined against the dollar.”
He further said although he agreed that the government could not control the market conditions, the government and the Reserve Bank of India (RBI) could certainly control the circumstances that determined how the market would behave.
Jayalalitha said the Centre's “wrong” economic policies and its fuel pricing policies were the reason for repeated increase in prices. “The Centre and RBI can take steps to control the falling value of the rupee, but they are instead passing the burden on to the people, which is unacceptable,” the chief minister added.
After the hike of Rs 1.82 a litre, people in the national capital will now have to pay Rs 68.58 for a litre petrol. This is the third increase in petrol price rates in June.
Taking note of the development, senior leaders of the Bharatiya Janata Party (BJP) want to raise the issue in the coming monsoon session of Parliament to corner the Union government. “The rise is in petrol price is just one important issue. There are many issues on which the Union government will be made to clarify in the monsoon session,” said Murli Manohar Joshi, senior BJP leader and chairman of the Public Accounts Committee.
A day after oil companies increased petrol prices by Rs 2, the Union government faced severe criticism from Tamil Nadu chief minister J Jayalalithaa as well. The increase was spurred by the weak currency, which itself was a result of “administrative incompetence and incapability”, she said.
“Instead of taking steps to control the rupee, the central government is just revising the rate of petrol as per its whims and fancies and this is the best example of its administrative incompetence and incapability,” said Jayalalithaa.
Said the BJP’s Sinha: “The government has completely lost its control over the economy, on economic policy that is why there is complete chaos. The [petrol price rise is not because the price of crude has gone up in the international market. The recent hike is because the rupee has declined against the dollar.”
He further said although he agreed that the government could not control the market conditions, the government and the Reserve Bank of India (RBI) could certainly control the circumstances that determined how the market would behave.
Jayalalitha said the Centre's “wrong” economic policies and its fuel pricing policies were the reason for repeated increase in prices. “The Centre and RBI can take steps to control the falling value of the rupee, but they are instead passing the burden on to the people, which is unacceptable,” the chief minister added.
After the hike of Rs 1.82 a litre, people in the national capital will now have to pay Rs 68.58 for a litre petrol. This is the third increase in petrol price rates in June.