Chief Minister B.S. Yeddyurappa has urged the Union Government to rescind its decision on rising prices of LPG, diesel and kerosene.

Addressing presspersons at the temporary helipad on the outskirts of Melkunda village, 20 km from here on Saturday, he said this (the decision) would fuel inflationary tendencies and contribute to increase in prices of essential commodities.

Mr. Yeddyurappa said the Centre's policies were ruining the economy. Instead of increasing the prices of petroleum products time and again it should have worked out a mechanism towards mobilising resources to make good the loss suffered by oil companies because of the subsidies.

The Chief Minister said this was the ninth time that the United Progressive Alliance (UPA) Government had increased the prices of petroleum products.

“Instead of taking concrete steps to bring back the black money stashed away in foreign banks and curbing corruption at high places, the UPA Government was burdening the people,” the Chief Minister said.

To a question if the State Government would reduce the cess on petro products, he said there was no such proposal before it.

“We cannot reduce taxes and cess which are the only resources for the Government to carry forward its welfare measures,” he said.