‘In 2014 March, International oil prices were $108 per barrel & on 30 March, 2020 it was $23 per barrel. Why are you not passing on a fraction of this humongous gains of Rs 20 lakh crore’: Dr AM Singhvi

Abhishek Singhvi, @DrAMSinghvi –  National Spokesperson, Congress:

  • Lives are most important, followed by livelihood.
  • We want to draw your attention to the GDP during lockdown i.e. Gas Diesel Petrol (GDP) and how they should be harnessed to deal with this lockdown.
  • It’s not a time for profiteering, it’s a time for the Govt. to do profit sharing. Important figure to be noted is that in 2014 March, international oil prices were $108 per barrel & 6 years later on 30 March, 2020 it was $23 per barrel. A 18-19 year historic low.
  • We all should know that a decrease in oil prices internationally benefits directly the Govt of India. Petrol as of today is available at Rs 28/litre as far as international price is concerned, but it is sold to us at Rs 74/litre.
  • For diesel, the actual figure should be Rs 32 per litre and it is sold to you at Rs 65 per litre.
  • Why are you not passing on a fraction of this humongous gains of Rs 20 lakh crore.
  • Can’t you part with even 5% of our GDP, USA parted with 10% and around the corner with another 5%, total 15% of their GDP.
  • Our Govt. cannot pocket this profit, it has to give it back to the farmer for his diesel, give subsidies for farmers and migrant workers.
  • On 14 March 2020, Govt. hiked diesel and petrol by Rs 3 per litre and got 39 thousand crores additional revenue.
  • If you look at it from the point of view of 2014 figures, it is a 149% increase in excise on petrol and 444% increase in excise on diesel.
  • It’s sad that in the middle of Corona month- March, 4 terrible events happened:
  • 14 March- fuel prices hiked by Rs 3/litre
  • 24 March- finance bill passed sanctioning special duty on petrol, diesel
  • 24 March- lockdown announced
  • 30 March- International crude at $23.
  • BJP has to realise that it has to stop this process of solo profiteering. All profits are for them, all pain is for common man. Instead of stealing touch, they have to understand how to give healing touch, you can give it by subventions, injections, subsidies etc
  • Price of LPG cylinder has risen from Rs 412 in May 2014 to Rs 858 currently. In just the last 6 months, there have been 6 hikes in LPG cylinder price.
  • It is important that in the nation’s economic grief, the Govt. has to give monetary relief. It has to be the nation’s monetary relief not the government’s monetary relief.
    Pic Credit: @INCIndiaLive

Leave a Reply