UPA lacks economic ideas to tackle fuel price hike: Jayalalithaa
Chennai: Charging the Congress-led UPA government at the Centre with lacking economic ideas to tackle the fuel price hike, Tamil Nadu Chief Minister Jayalalithaa on Thursday demanded immediate rollback of Rs five hike in diesel prices, besides the ceiling on supply of subsidised cylinders.
"The argument that increase in global crude prices and falling value of Indian Rupee against US Dollar are reasons for diesel price hike lacks substance. If concrete steps had been taken to control the falling value of the Rupee besides taking into account domestic crude output and the profit made by oil companies, this hike could have been avoided," she said.
Not taking permanent action and blaming global crude prices and Rupee depreciation to increase fuel prices was not a proper economic measure. It would only further increase inflation, she said in an official statement.
Charging the UPA government with constantly betraying the people, she said the hike would have a cascading effect with immediate increase in fares of private transport, ultimately affecting all sections of society, including students, tourists, and passengers even as prices of essential commodities and vegetables could go up.
Further, the ceiling of six subsidies cylinders per year would be insufficient for a family, the Chief Minister said.
"Expressing my strong condemnation to this hike which will affect all sections of society, I demand the rollback of the hike in diesel price and ceiling in cylinder subsidy, if the UPA government is really concerned about the people," she said.