Mangaluru: Increase of Prices for Commodities will Not help India in Economic Growth – Mahabala Marla

Mangaluru : Former Mayor Mahabala Marla held a press meet at the District Congress Office here on February 9.

Addressing the mediapersons, Mahabala Marla said, “The Narendra Modi government has taken a number of much-needed steps to put the economy on track, but that is just not translating into good numbers. During UPA Government rule in India the crude oil was trading upto $ 144 a barrel. Despite the hiked prices in International trade, the UPA Government managed to price the petrol at Rs 83.16 per litre and Diesel at Rs 56.71 per litre.”

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He further said, “At present the crude oil is trading below $ 30 a barrel in the international market. India is one of the largest importers of crude oil and is saving billions of dollars due to the falling prices of crude oil. India benefits upto 3 Lakh Crores with the fall of prices. The Modi government has steadily raised taxes on petrol and diesel. Petrol prices are now at Rs 60.48 per litre, even though the production cost of petrol is only Rs 23.77 per litre. PMO has fixed the subsidy on domestic LPG at Rs 559 per cylinder. The proposed fixed subsidy is higher than earlier prices of Rs 422 per cylinder. The hike in gas prices will lead to inflation”, he said.

“Putting a check on vegetable prices is one of the toughest challenge that the Modi government is facing since it came to power. Poor people are suffering with increased price for basic Commodities. In short the government have been benefited but is not utilising it with a proper mechanism”, he added.

District Congress Spokesman A C Vinayaraj, Deputy Mayor Purshotham and others were also present at the press meet.

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