Rising Fuel Prices: Macroeconomic Cost of Petrol is Rs 40, Government Must Stop Setting High Prices, Says Subramanian Swamy
Swamy said that he is not in the favour of microeconomics as it involves only the buyer and the seller and not the whole economy.
New Delhi, September 10: BJP leader Subramanian Swamy, speaking on the growing fuel prices in the country has attributed the price hike in petrol and diesel prices to government's microeconomic approach. Speaking to news agency ANI, Swamy said that he is not in the favour of microeconomics as it involves only the buyer and the seller and not the whole economy.
"I feel that the macroeconomic price for petrol is Rs 40 and somehow the PM must ask the Petroleum Minister to think as a part of Economic Affairs Ministry and not as Petroleum minister and stop setting prices so high that people can go to the point of revolt," cautioned Swamy. On Fuel Price Hike, Rajasthan BJP Minister Rajkumar Rinwa's Shocker: 'Cut Down Consumption, Reduce Expenditure'.
Prices of petrol and diesel have been increasing consistently for the past few weeks. Since January 2018, the petrol price in Delhi has risen by Rs 10.41 from Rs 69.97 a litre. The price of diesel has gone up by Rs 12.81 from Rs 59.70 a litre on January 1 to Rs 72.83 per litre on Monday. Bharat Bandh: 2-Year-Old Girl Dies Enroute Jehanabad Civil Hospital; Parents Blame Blockade by Protesters, SDO Denies.
Price of Petrol and Diesel as on September 10: Petrol at Rs 80.73/litre (increase by Rs 0.23/litre) and diesel at Rs 72.83/litre (increase by Rs 0.22/litre) in Delhi. Petrol at Rs 88.12/litre (increase by Rs 0.23/litre) and diesel at Rs 77.32/litre (increase by Rs 0.23/litre) in Mumbai. Bharat Bandh Effect in Mumbai: Shops Shut in Several Areas, Public Transport Largely Unaffected.
The Opposition led by Congress has called for a Bharat Bandh on Monday over the rising fuel prices and falling rupee against dollar. Bharat Bandh Today, News Updates: Shutdown Called Off, Metros Largely Unaffected, 300 Congress Workers Detained in Assam. Images of protests have been reported from across the country, with some turning violent. The Karnataka government declared holiday for schools and colleges in wake of the protests.
(The above story first appeared on LatestLY on Sep 10, 2018 03:50 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).