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Indian Youth Congress with leaders staged protest against petrol hike

UncategorizedIndian Youth Congress with leaders staged protest against petrol hike

Today the National In-charge of IYC Krishna Allavaru & Srinivas BV & Indian Youth Congress workers rallied protests against huge petrol hike.

Today the National In-charge of IYC Mr. @Allavaru G, and IYC President Mr.
@srinivasiyc under Ji’s leadership, members of the Indian Youth Congress staged a protest outside the Petroleum Ministry against the steep hike in the prices of petrol and diesel.

Video of the protest:

Petrol prices crossed the Rs 100 mark in Delhi after yet another hike and Rahul Gandhi criticized the government over the massive petrol price hike, calls it tax extortionist
He said on Twitter that the “Shameless” Modi government has been feeding its rich friends by “looting” from the pockets of the common masses.
“Your car may run on petrol or diesel, the Modi government runs on tax extortion,” Congress leader Rahul Gandhi tweeted in Hindi.

Also from Congress, Randeep Surjewala said at a press conference, “From January 1 to July 7, the Modi government increased the prices of petrol 69 times. From April 2014 to June 2021, petrol and diesel witnessed an increase of excise duty from which the government shockingly looted ₹25 lakh crore from Indian people.”

Petrol, diesel prices soared up for the second day in a row in all metros alarming everyone and the latest revision has taken the cost of petrol to ₹100.56 per litre in Delhi while diesel is currently at ₹89.62. In Mumbai, petrol is being sold at ₹106.59 per litre, whereas diesel has reached ₹97.18 per litre.

The national capital had on Wednesday become the last of the metro cities to see auto fuel rising above the ₹100-a-litre mark. Bhopal had in May become the first city to cross the ₹100-mark in petrol prices. It was followed by Jaipur, Mumbai, Hyderabad and Bengaluru.

Patna and Thiruvananthapuram saw petrol retailing above ₹100 in the last week of June whereas Chennai and Bhubaneshwar joined the list in the first week of July. Kolkata also saw petrol prices climbing over ₹100 per litre on Wednesday.

Fuel prices vary from state to state depending on the price of local taxes such as value-added tax (VAT) and freight charges.

As petrol and diesel keep surging higher, domestic fuel prices are anticipated to increase further this month.

Indians paid more for petrol and diesel last year despite low international crude oil prices due to high taxes levied by the Indian central government and states. It is a point worth noting that India levies the highest taxes on fuel in the world.

Global crude oil prices dived to an 18-year-low as oil demand fell sharply due to the COVID-19 pandemic in 2020. But the benefit of the low crude oil prices was not passed on to citizens as the government raised excise duty on petrol and diesel piercingly to shore up revenues during the pandemic.

The situation has worsened in 2021 as citizens are now feeling the pinch of rising international crude oil prices and high taxes.

Experts have already predicted that high fuel prices could hinder economic recovery by lowering demand and undermining consumer views. It has already led to a visible acceleration in inflation, obvious by the price increase seen across several products and services.

If international crude oil prices keep rising, there are two options to deal with the fuel price crisis. The government could either cut high taxes on fuel or include petroleum products under GST. But as the situation appears right now, the government does not seem inclined to consider either of the two measures leaving the people in the doldrums.

 

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