CPI-M slams PM refusal to roll back fuel price hike
New Delhi: The Communist Party of India-Marxist (CPI-M) on Wednesday said the government`s refusal to roll back the fuel price hike "reflects a flawed economic thinking and insensitivity to the sufferings of the people".
The CPI-M said that while the government hoped to mobilise Rs 25,000-30,000 crore in the coming year by increasing customs and excise duties on diesel and petrol, Finance Minister Pranab Mukherjee had admitted that Rs 26,000 crore worth of revenue would be lost during the same period due to cuts in income taxes.
"How come the Prime Minister is defending the indirect tax hike in the name of fiscal consolidation while turning a blind eye towards the direct tax cuts?" the party asked in a statement.
The statement asked what "populist policies" were? "Having low indirect taxes on fuel, consumed by an overwhelming majority of the people, or doling out corporate tax concessions worth Rs 80,000 crore in one single year (2009-10) in the name of stimulus?"
It said the Prime Minister`s assertion that the impact of the fuel price hike would lead to only 0.4 percent rise in the wholesale price index was a gross miscalculation.
"Food price inflation soared after the last hike in petro prices in July 2009. At a time when the people are reeling under nearly 20 percent food price inflation, this round of fuel price hike will amount to a completely back-breaking burden.
"The CPI-M rejects the Prime Minister`s callous defence of the fuel price hike and strongly reiterates its demand to withdraw the increase in customs and excise duties on diesel and petrol immediately."
Download the all new Zee News app for Android and iOS to stay up to date with latest headlines and news stories in Politics, Entertainment, Sports, Technology, Business and much more from India and around the world.
More from India
More from World
More from Sports
More from Entertaiment
- Muslim leader Asaduddin Owaisi says Aamir Khan wrong in wanting to leave India
- BJP's big poser to Aamir Khan: Is there any better neighbour for Muslims than a Hindu?
- Failed to secure confirmed reservation in train? Now you can travel in pantry car!
- Europe to 'free up space' by kicking out tens of thousands of Pakistanis
- Vladimir Putin rages as Turkey shoots down Russian plane