Ahead of Prime Minister Narendra Modi’s virtual discussion with chief ministers and lieutenant governors on the prevailing situation in West Asia, several Union ministers Friday reassured that the Centre had absorbed the impact of rising fuel and gas prices.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri, along with Corporate Affairs and Finance Minister Nirmala Sitharaman, also allayed fears of a possible lockdown to address potential oil and gas shortages.
In addition to chief ministers, the Lieutenant Governors of Union Territories, in their capacity as chairpersons of their respective State Disaster Management Authorities, will also participate in the meeting at 6 pm.
Their assurance came even as the Opposition, especially in poll-bound states such as West Bengal, sought to question the Bharatiya Janata Party-led NDA government’s response to the situation in general, and that of the Prime Minister in particular.
Meanwhile, B L Santhosh, the BJP’s national general secretary (Organisation), posted on X, “In line with its stated & practiced policy of Nation First & Indian First policy , Union Govt led by PM Sri @narendramodi brings down excise duty on petroleum products insulating Common Public & Oil Companies from the instability of markets”.
‘Govt has taken a huge hit on its taxation revenues’
Puri, in a post on X, said that international crude prices “have gone through the roof” in the last month, rising from around $70 dollars per barrel to around $122 dollars, as a result of which petrol and diesel prices for consumers have gone up all over the world.
He added that prices have increased by around 30-50 per cent in Southeast Asian countries, 30 per cent in North American countries, 20 per cent in Europe, and 50 per cent in African countries.
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In India, however, he said the government has “taken a huge hit on its taxation revenues” to ensure that “very high losses” of oil companies — approximately 24 Rs/litre for petrol and 30 Rs/litre for diesel — at this time of “sky high international prices” are reduced.
“The Modi Government had two choices- either increase prices drastically for citizens of Bharat as all other nations have done or bear the brunt on its finances so that Indian citizen is insulated from international volatility. Prime Minister @narendramodi Ji, in keeping with his Government’s commitment of last 4 years since the conflict in Russia-Ukraine started, decided to take a hit on its own finances again to safeguard the Indian citizen,” Puri stated.
At the same time, he added, export tax has been levied as international prices of petrol and diesel have skyrocketed and any refinery exporting to foreign nations will have to pay export tax.
“My gratitude to Hon’ble PM Narendra Modi Ji and Hon’ble FM @nsitharaman Ji for this very timely, bold and visionary decision!” Puri said.
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While the global situation “remains in flux”, the Union Minister said, India was closely monitoring developments across energy, supply chains, and essential commodities in real time. He also added that India, under PM Modi’s leadership, was taking all necessary steps to ensure the uninterrupted availability of fuel, energy, and other critical supplies for citizens.
On the other hand, in view of the West Asia crisis, Sitharaman said the central excise duty on petrol and diesel for domestic consumption has been reduced by Rs 10 per litre each to protect consumers from price rise.
“Further, duties have been imposed on exports of Diesel at Rs 21.5 per litre and on ATF at Rs 29.5 per litre. This will ensure adequate availability of these products for domestic consumption. The Parliament has been notified about the same,” she added.
‘Attempts to spread rumours and create panic’
Meanwhile, Puri also addressed the talk of a possible lockdown.
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“Rumours of a lockdown in India are completely false. Let me state this clearly, there is no such proposal under consideration by the Government of India. In such times, it is important that we remain calm, responsible, and united. Attempts to spread rumours and create panic in such a situation are irresponsible and harmful,” he also said.
An issue which has gradually found its way to the core of the political narrative against the BJP, an alleged “LPG crisis”, is openly being questioned by the All India Trinamool Congress in West Bengal, which heads to the Assembly elections in late April.
Addressing a poll rally in West Bengal’s Keshiary Wednesday, senior TMC leader and MP Abhishek Banerjee alleged that the BJP just sought to push Indian citizens into standing in queues.
“When they want, they make people stand in line…demonetisation — lines; a (Covid) lockdown, SIR, lines; lines for LPG cylinders…they (the people) had to stand in lines at bus terminals, on roads, railway stations, on flyovers,” he said.
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TMC Rajya Sabha MP Sagarika Ghosh questioned why PM Modi “only acts when there is an emergency”. “Why did same incompetent Modi government only a week ago say ‘nothing to worry, all under control?’ All gas PM and no gas citizens” she alleged in a post on X.
