Yesterday, Government of India deregulated diesel prices in India and thus diesel prices also become dependable on international crude oil prices. Now petroleum companies can increase prices of diesel when international prices of crude oil increase. Though, government has given some relief to people by not increasing present subsidy on diesel which is around Rs 10.
All opposition political parties have criticized government over price hike and they have demanded immediate role back of prices. With yesterday’s decision diesel has become approximately 50 paise costlier in India. The biggest worry of most of people is that inflation is directly linked to hike in diesel prices. Any hike in diesel prices is likely to increase prices of most of household goods; thus increases cost of living and inflation.
Already, common people in India are suffering from every increasing price of essential items and now this step of government will further put pressure on common people. It is duty of government of India to come up with some alternate plans to ease these price hike pressure. If prices of diesel continued to increase in such manner then life of common people is likely to become very hard in coming days.
All opposition political parties have criticized government over price hike and they have demanded immediate role back of prices. With yesterday’s decision diesel has become approximately 50 paise costlier in India. The biggest worry of most of people is that inflation is directly linked to hike in diesel prices. Any hike in diesel prices is likely to increase prices of most of household goods; thus increases cost of living and inflation.
Already, common people in India are suffering from every increasing price of essential items and now this step of government will further put pressure on common people. It is duty of government of India to come up with some alternate plans to ease these price hike pressure. If prices of diesel continued to increase in such manner then life of common people is likely to become very hard in coming days.