The Kerala Congress (M) has strongly condemned the Union government for hiking excise duty on petrol and diesel, instead of cutting the fuel price at a time when the crude oil price in the global market has nosedived to $ 36 a barrel.
In a statement issued here on Thursday, KC(M) State general secretary Joseph M. Puthusserry alleged that the move was nothing but daylight plunder, holding the people to ransom.
He alleged that by increasing the excise duty, the Central government was trying to deny the benefit of the crude oil price slump to the common people.
The excise duty has been hiked by 30 paise and Rs.1.17 a litre on petrol and diesel respectively. The Centre has increased excise duty four times during the period from November 12, 2014 to January17, 2015 alone and this is the sixth excise duty hike on petrol and diesel by the Narendra Modi government, he alleged.
In July 2008, when the global crude oil price stood at $ 133.40 a barrel, the price of petrol and diesel a litre in India was Rs.50.62 and Rs.34.86 respectively.
In July 2011, when the crude oil price came down to $ 97.10 a barrel, the price of petrol and diesel a litre rose to Rs.63.70 and Rs.41.29 respectively.
When the crude oil price came down to $ 92.33 in January 2014, the price of petrol and diesel was Rs.75.36 and Rs.57.61 respectively. Ironically, now the petrol-diesel price in India stood at Rs.63.51 and Rs.49.91 a litre when the global crude oil price had further lowered to $ 36 a barrel, Mr Puthusserry alleged.
He said the Centre’s anti-people action had paved way for corporate monopolies like the Reliance Industries to reap undue profit worth crores of rupees a day.
The KC(M) leader has called upon the government to ensure the benefit of the crude oil price slump in the international market to the people.
Sixth hike in excise duty by Modi government
Corporates like Reliance makes undue profit worth crores a day
