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Govt. supporting 'chronic capitalism': Cong on petrol, diesel hike

ANI  |  New Delhi [India] 

Coming down heavily on Prime Minister Modi-led government over the increase in prices of petrol and diesel for the fifth time in the last two months, the Party on Sunday alleged that the ruling dispensation at the Centre was supporting 'chronic capitalism'.

leader Tom Vadakkan told ANI it is high time for Prime Minister Modi-led government to act because if they do not do the same then the people of will act against them.

"I don't know what the government thinks when they go about increasing the prices of petrol and diesel. While international price was down, the prices were going up. Whom are they supporting? Is it their chronic capitalism we are talking about? Is it happening to support the cronies of the government? It is sad that this country is in the poverty list and is further sinking," he said.

He further said that this continuous process of increasing petrol and diesel prices is going to hit the country's economy terribly.

"Price rise, escalating price, diesel is going to have a cascading affect on every section of the economy. Agriculture, vegetables, goods moment across the country, everything is going to be effected," he added.

was on Saturday hiked by Rs. 1.34 a litre, the fifth increase in two months, and diesel by Rs. 2.37 a litre on back of spike in global rates.

After including local VAT, petrol will now cost Rs. 66.05 a litre in Delhi as against Rs. 64.72 per litre currently. Diesel will cost Rs. 55.26 per litre as against Rs. 52.61 a litre at present.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, October 16 2016. 11:56 IST