Fuel prices in India 'unsustainably high', govt should decrease excise duty: Congress

The Indian National Congress party has demanded on October 16, that the BJP-led administration should decrease excise duty in order to lower "unsustainably high fuel and cooking gas prices". In a meeting, the Congress Working Committee passed a resolution accusing the Modi administration of "mishandling the economy". The party stated that the Modi government has built a gulf of economic instability which has led to suffocating the average Indian's minimum earnings and savings.  

The party further added that the actions of the BJP government by increasing the fuel prices in India can simply be termed as extortion. To put it another way, since the year 2014, the rise corresponds to an incomprehensible 820 per cent increase in excise duty on diesel fuel, while, a 258 per cent increase in petrol. Citing the party’s statement, ANI reported, “The Modi Government has collected massive windfall gains, in excess of Rs 18,00,000 crore.” 

Congress calls upon BJP government to reduce fuel prices in India

While referring to the price increases in a variety of commodities, including cooking oil, the resolution which is adopted by the party stated that "unaffordable prices of basic consumer goods have burnt a hole in the budget of every Indian". During the time when the country is rehabilitating from the COVID-19 outbreak, Congress further stated the government "must introspect" in this situation.   

The resolution further added that across the world, not a single government should inflict such severe economic hardship on its citizens, whether via purposeful policy or economic carelessness. “The CWC calls upon the Modi government to take immediate steps to reduce prices in all crucial sectors, to acknowledge the damage caused by poorly thought-out economic policy and to take urgent steps to remedy the same," the resolution stated.  

Gas and fuel prices in India

Meanwhile, Prices of petrol and diesel have risen to their maximum levels in the country. As per a price announcement from state-owned fuel merchants, petrol prices climbed by 30 to 35 paise per litre on Saturday, October 16, while diesel prices went up by 33 to 37 paise per litre. In Delhi, petrol costs Rs 105.49 per litre, while diesel costs Rs 94.22., whereas, in Mumbai, diesel costs Rs 102.15 per litre, while petrol costs Rs 111.49 per litre. It should be highlighted that since October 5, fuel prices have been rising for seven days in a row.  

Furthermore, LPG rates in India are determined by state-owned oil marketing corporations. The costs are updated every month, and now they are Rs.884.50 in New Delhi and Mumbai. The exchange rate of the rupee versus the dollar and the worldwide benchmark rate are the two primary factors that affect the price of LPG cylinders in India. 

(Image: Twitter/ INCIndia/ PTI)