Unprecedented Inflation

Ajay makan Wed, 14 Sep 2016

Unprecedented Inflation

Congress Party would like to ask Shri Modi and Shri Jaitley to kindly tell: "Who is responsible for the unprecedented inflation to which people of India are subjected to, currently."

Is it the opposition? 
Or are they going to blame the farmers who are fighting drought without any assistance from the Government? Or is the BJP going to blame it some bad omen which Modi Ji got along with him when he came to power.

The reality is that while the Country is facing the highest ever surge in food prices in two years, the Central Government is busy spending crores of Tax Payer’s wealth on their two-year birthday bash!!

The Consumer food price inflation, at 7.55 per cent year-on-year in May, has hit a 21-month-high.

Tomatoes are being sold at Rs 100 per kg. Retail prices of ‘pulses’ are sky rocketing at over Rs 170 per kg. In May, the overall Retail inflation jumped to its highest levels in 19 months to 5.76 per cent. 

The WPI data released yesterday also reveals that while vegetable inflation was marked at a high of 2.21 per in April, it broke all records and touched 12.94 per cent in May.

The said WPI data is extremely shocking and worrisome for the Country. It is due to the failure of economic policies of the Modi Government, the people are being subjected to unprecedented financial burden to procure basic necessity for survival i.e. food. Therefore, the Congress Party call upon Shri Modi and Shri Jaitley to answer the people as to whom does the Government seek to blame for such killing inflation?

Fuel Prices
Similarly, the Modi Government is also looting the people of the Country by imposing excessive Tax on fuel items, even though the price of crude oil in international market has substantially decreased.

While in 2013/2014 (during Congress Regime), the price of crude oil was about 108$/ barrel, currently the same oil is procured at about 58$/ barrel. However, despite such reduction in the crude oil prices, the government has made a mindboggling increase in the VAT and Excise Taxes on petroleum products.

Currently, on 100 Rs of Petrol, the consumers are paying 54 Rs of Tax (VAT + Excise) and similarly on 100 Rs of Diesel, the consumers are paying 47 Rs of Tax (VAT + Excise). This is a drastic spike from what the taxation on petroleum the consumers were paying during the Congress Regime. In 2014, the Tax (VAT + Excise) on one litre of Petrol was Rs. 31 and on one litre of Diesel, the same was Rs. 19.53.

It has also come to our knowledge that after reading media reports, the Finance Minister has woken up to hold a review meeting to in order to check the spike in food prices. However, we would like to know from Shri Jaitley, the Finance Minister, that before today, in the past 6 months, did he take any steps to protect the public from the remarkable inflation in the Country? Or was he too busy in planning and plotting on how to unconstitutionally tumble Congress'
state Governments?