'Fuel price reduction inadequate, will not give real relief to people': Lalu Prasad Yadav

At the outset of slash in petrol and fuel prices amid festivities, Rashtriya Janata Dal (RJD) leader Lalu Prasad Yadav asserted on November 3 that people 'will not get any real relief' from the reduction in excise duty on petrol and diesel.

According to Lalu Yadav, the announcement by the Centre will be withdrawn and fuel prices will 'be raised again' after the Uttar Pradesh Assembly polls. 

'Petroleum prices will be increased again after UP elections': Lalu Yadav

In addition, the 73-year-old RJD leader, upon reaching Delhi for routine medical check-ups and tests, told ANI that the reduction in excise duty on petrol and diesel was inadequate. He accused the PM Modi-led government of orchestrating a 'drama' and sham by reducing petrol prices by Rs 5. 

"If the prices are reduced by Rs 50 per litre, then it will bring relief. Petroleum prices will be increased again after UP elections," he said. 

Lalu Yadav's younger son and former Deputy CM of Bihar, Tejashwi Yadav, said that petrol and fuel prices should be brought down to less than Rs 70 per litre. 

"Earlier, BJP felt Rs 70 per litre petrol was also costly and now they have raised the prices above Rs 100 per litre. They should bring the price of petrol under Rs 70 per litre, to say the least," Tejashwi said. 

Centre brings down excise duty on diesel & petrol prices on Diwali eve 

In a Diwali bonanza by the Modi government and major relief to the common man, the prices of petrol and diesel will be reduced by Rs 5 and Rs 10 respectively from the day of the festival, November 4. After seven straight days of increase, fuel prices remained constant on Wednesday. The most recent hike, on November 2, pushed the price of petrol in Delhi to an all-time high of Rs 110.04 a litre.

"On eve of Diwali, Government of India announces excise duty reduction on petrol and diesel. Excise duty on Petrol and Diesel to be reduced by Rs 5 and Rs 10 respectively from tomorrow," the Centre informed in a press release. 

As per govt sources, the reduction in excise duty on diesel being double that of petrol will be a boost for farmers during the upcoming Rabi season. States have also been urged to reduce VAT on petrol & diesel to give further relief to consumers.

"The Indian farmers have, through their hard work, kept the economic growth momentum going even during the lockdown phase and the massive reduction in excise on diesel will come as a boost to the farmers during the upcoming Rabi season," the Ministry of Finance added. 

"In recent months, crude oil prices have witnessed a global upsurge. Consequently, domestic prices of petrol and diesel had increased in recent weeks exerting inflationary pressure. The world has also seen shortages and increased prices of all forms of energy. The Government of India has made efforts to ensure that there is no energy shortage in the country and that commodities such as petrol and diesel are available adequately to meet our requirements," the Centre's statement added.