Chennai: Senior Congress leader and former Union Minister P. Chidambaram alleged that the Central government “robbed” the people by every “unjustified rupee hike in fuel prices.”
“Govt claims that it will ‘lose’ Rs 13,000 crore for every rupee cut in fuel prices. That’s the wrong way to look at the issue. The correct way to look at the issue: Govt ‘robs’ people of Rs 13,000 crore by every unjustified rupee increase in fuel prices,” Mr. Chidambaram? tweeted on Sunday.
The senior Congress leader took to the micro blogging site to criticise the government.
Media reports quoting government estimates, said that every rupee cut in excise duty on petrol and diesel will result in a revenue loss of about `13,000 crore.
Sounding a note of caution, rating agency Moody’s has said that any reduction in excise duty on petrol and diesel would adversely affect fiscal deficit unless it is matched by a commensurate cut in expenditure.
Meanwhile, Mr. Chidambaram has claimed that his prediction, following demonetisation, of 1.5 per cent cut in the Gross domestic product (GDP) growth, has come true.
“A demonetisation like grief should not befall any country,” he said, and claimed that it had been hugely “detrimental” to the Indian economy in the 21st century.
“My heart is aching as what I had said has come true. I am not happy that what I had said has come true,” he said.
“I write only for this, a government should not cause grief, if it does, the people should question it,” the former Union minister added.
Speaking at the launch function of the Tamil version (titled Vaimaye Vellum) of his ‘Speaking Truth to Power’, he said “everybody should write and speak” to end discrimination....