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Vijay Shankar Pandey slams NDA Govt

| | Lucknow | in Lucknow

Retired bureaucrat and convenor of Lok Gathbandhan Party (LGP) Vijay Shankar Pandey slammed the National Democratic Alliance (NDA) government on Wednesday for unprecedented rise in petrol prices. He said that while crude oil prices across the world registered around 75% drop, in India petrol and diesel prices have gone up considerably.

Flaying the Union government for failing to check prices of petro-products, Pandey pointed out that between July and August, 2017 there has been a massive hike in  petrol and diesel prices which pushed retail prices of essentials to a five-month high. He said that the Union government appeared to be helping select few business houses of the country at the cost of the poor masses.      

Referring to an international report, Pandey said that in international market crude prices have gone down from $ 106 per barrel in July 2014 to $ 26 in January 2016, which is 75% drop over 15 months. He said that crude prices have reached an 11-year low, but due to the lopsided policies of the Union and state governments, domestic prices have registered sharp spiral. 

The LGP leader said that beside large benefits to oil companies, additional taxes have put unbearable burden on the poor people. 

Pandey further said India imports more than 80% of its fuel requirement, hence with declining global prices, the retail prices of petrol and diesel should have gone down fairly but Indian consumers are now paying just about double the global rate. 

The LGP Convenor said that India’s consumer inflation rates have risen to a five-month high in August, industrial output remained sluggish and all other parameters of economy showed no improvement. 

Pandey said that oil prices ddirectly impacted the cost of transportation of goods and thus consumer inflation has been demonstrated amply in recent times. 




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