NEW DELHI: Senior Congress leader P Chidambaram has mocked the BJP and its chief Amit Shah over assurances that the rise in fuel prices would be arrested soon. The former Finance Minister raised questions over how realistic such promises are.
Chidambaram's chide came in a tweet on Sunday, in response to Amit Shah's statement that the government would soon announce measures to stem the rise in fuel prices. " "Government says will not cut fuel prices. BJP President says 'Centre will soon arrest fuel prices'. BJP must have found a crude oil source that will supply crude oil free!" Chidambaram said in a tweet.
Government says will not cut fuel prices. BJP President says 'Centre will soon arrest fuel prices'. BJP must have found a crude oil source that will supply crude oil free!
— P. Chidambaram (@PChidambaram_IN) September 16, 2018
The policy wonk in Chidambaram seems to be attacking the BJP using the chink in its reasoning. The ruling party has repeatedly said the rise in fuel prices to record levels is outside of its control. It has blamed the international financial scenario and the rising prices of crude oil for the jump in domestic fuel prices.
By that logic, there are only a limited number of ways in which the fuel prices could come down. The government would either have to resort to slashing taxes on fuel, which would lead to loss in revenues, or it would have to find new and cheaper sources of crude oil.
"The increasing petrol and diesel prices and sliding rupee against dollar are a cause of concern for both the BJP and the government. It was due to some developments that took place globally. (The) Trade war between US and China and issues between the US and oil producing countries. Because of these global reasons these developments are taking place," said the BJP president.
"We are also concerned about this. Solution is also being found out. Within short time, the government will take a stand on these issues and come out," he further said, adding that the impact on rupee was "far less" than compared to other currencies.
Chidambaram is yet to pick on Amit Shah's reference to the impact of the international scenario on the currency.